Comments on: Insurance: 5 warning signs you may have improper insurance http://www.thickenmywallet.com/blog/wp/2009/07/16/insurance-5-warning-signs-you-may-have-bad-insurance/ Everything to do with thickening your wallet by entrepreneur turned President of an Investment Company Mon, 15 Mar 2010 15:22:08 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Jerry http://www.thickenmywallet.com/blog/wp/2009/07/16/insurance-5-warning-signs-you-may-have-bad-insurance/comment-page-1/#comment-19176 Jerry Fri, 17 Jul 2009 21:04:56 +0000 http://www.thickenmywallet.com/blog/wp/?p=1073#comment-19176 Jack has a point... if you take the time to read the insurance contract, you can avoid many of these pitfalls. If you do not understand them, have SOMEONE ELSE (not the agent) explain them to you before you sign. This will lead to fewer problems down the road. I can see two sides to Eric's argument, but if it isn't too much to add on to a policy then it might be worthwhile. Jerry Jack has a point… if you take the time to read the insurance contract, you can avoid many of these pitfalls. If you do not understand them, have SOMEONE ELSE (not the agent) explain them to you before you sign. This will lead to fewer problems down the road. I can see two sides to Eric’s argument, but if it isn’t too much to add on to a policy then it might be worthwhile.
Jerry

]]> By: Eric http://www.thickenmywallet.com/blog/wp/2009/07/16/insurance-5-warning-signs-you-may-have-bad-insurance/comment-page-1/#comment-19175 Eric Fri, 17 Jul 2009 16:00:15 +0000 http://www.thickenmywallet.com/blog/wp/?p=1073#comment-19175 Insurance for kids makes sense, if it is done right. If it is very cheap term, it helps with burial costs. Most young parents can't cough up $15-$20K for a funeral, but they can manage a few bucks a month. Also, permanent policies on kids are a great way to secure insurability, transfer wealth across generations, and secure affordable permanent coverage for their inevitable final expenses and estate needs. Otherwise a good article. Insurance for kids makes sense, if it is done right. If it is very cheap term, it helps with burial costs. Most young parents can’t cough up $15-$20K for a funeral, but they can manage a few bucks a month. Also, permanent policies on kids are a great way to secure insurability, transfer wealth across generations, and secure affordable permanent coverage for their inevitable final expenses and estate needs.

Otherwise a good article.

]]> By: jack http://www.thickenmywallet.com/blog/wp/2009/07/16/insurance-5-warning-signs-you-may-have-bad-insurance/comment-page-1/#comment-19170 jack Thu, 16 Jul 2009 15:05:13 +0000 http://www.thickenmywallet.com/blog/wp/?p=1073#comment-19170 READ THE CONTRACT, I had a friend who was paying into a life insurance for the purpose of cancer or stroke as it runs in the family..he didnt bother reading the contract and just found out that his policy dosent cover either of those issues..he is 33 now and has been paying into this for over 10 years at $50/m...READ THE CONTRACT, taking the word of the person you are dealing with is bad biz, those days are over..if the contract is too complex..take it to a lawyer. READ THE CONTRACT, I had a friend who was paying into a life insurance for the purpose of cancer or stroke as it runs in the family..he didnt bother reading the contract and just found out that his policy dosent cover either of those issues..he is 33 now and has been paying into this for over 10 years at $50/m…READ THE CONTRACT, taking the word of the person you are dealing with is bad biz, those days are over..if the contract is too complex..take it to a lawyer.

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