4 Types of Insurance Everyone Should Have
/Life includes unexpected miracles. It also includes unexpected challenges. Injury, death, accidents, and theft are all eventualities no one likes to think about, but they do happen.
As much as you might like to, you can't predict the future. Life throws curveballs all the time, and you need to be prepared for them when they arise. That's why it is so important to have insurance. Insurance may feel like a strange thing to spend your money on, as you always hope you never have to use it. But it will save you a lot of trouble if you do.
These days you can get insurance for almost anything. Bruce Springsteen insured his voice for $6 million, and model Heidi Klum did the same thing with her legs. Insurance covers you in the event of a disaster, preventing you from losing money, valuable assets, or a source of income.
Although there are countless policies available for all kinds of things, there are some types of insurance that everyone should have. At Money & Mimosas, we are strong advocates for accessible, affordable healthcare and all insurance. We realize that, unfortunately, this is not the reality in most places. We hope massive changes to our health care system occur soon. In the meantime, we are here to provide coverage information we believe is helpful.
Here are four insurance plans that everyone needs.
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Health Insurance
All it takes is one serious illness or accident for you and your family to become bankrupt. In fact, two-thirds of all bankruptcies in the United States are a result of medical bills. No matter how healthy you are, injury or illness can strike you down at any time, and the risk will only increase as you get older. For this reason, you should consider taking out health insurance or improving the coverage of your existing plan. Many employers offer private insurance, or you may be able to access it through a trade group or union. If not, you will have to go private. This may seem like an expensive option, but when you consider the cost of potential medical bills, you will likely see that it is an essential investment.
Dental Insurance
You only get one set of adult teeth, and once they're gone, they're gone. They're responsible for some of our most essential functions, such as eating and communicating. But amazingly, many health insurance plans offer minimal or no dental coverage. If you look after your teeth, they can last you your entire life, so insurance is a good idea to prevent you from forking out for any unforeseen treatment. You can even get dental insurance that covers implants, crowns, and other cosmetic treatments.
Life Insurance
If you passed away, would your family be able to cope financially? When you're young, it may not seem like something you need to worry about, but there is no predicting what could happen. A life insurance policy will cover your funeral bills and help to provide for the loved ones you leave behind.
Home insurance
Depending on the property you live in, this means either homeowner's insurance or renters insurance. A homeowner policy covers you against damage and theft, while renters insurance covers you for personal items in your apartment. A home is one of the most valuable assets you can own, so it's essential to protect it.
