Disability people need education too


Learning About Insurance- Part 2

At the end of Part 1 I said I would discusswho don't have it through work is a
some good deals you can get in insurance andshort-term disability policy. This covers you
this is what I intend to do in this section.if you are out of work for any length of time
No bargains can be found in the "must have"and can't make any money. Anyone looking to
type policies, like auto and home insurance.start a family should have this because while
But there are some policies I highlythe new mom is home with the baby she can get
recommend.paid while on maternity leave. This type of
policy is becoming more and more popular as
The first type of policy I recommend is anemployers are looking to cut costs by
umbrella policy. This is a policy that coversreducing  benefits.
you for personal liability. Depending on your
insurance company you can get a $1,000,000My wife had a short-term disability policy
umbrella policy for as little as $200-$300because the school system she works for does
depending on what you are covering. This isnot offer STD benefits. We pay roughly $75
usually for 2 cars and one home. Once you addmonth for the policy that will pay her just
more cars and additional houses the premiumunder $3000 for a month out of work. As long
goes up. Hopefully you never need to use thisas you can get a doctor's note saying you
type of policy but in this country, whereshould miss work you can receive a
people file law suits for spilling hot coffeepredetermined amount of money for up to six
on themselves, you need to protect yourmonths. After six months you will need a
assets. If you do get sued wouldn't it belong-term disability policy. Let me tell you,
nice to know you have a million or more inthis money came in handy when our daughter
coverage for a couple hundred dollars a year?was  born.
In some cases an umbrella policy can save youMost people will say they don't need this
some money. How? Some people understand thetype of policy but I think it is a bargain.
importance of having the proper amount ofWe have actually made money on this policy
coverage. Instead of having an umbrellabecause we have had it 3 years and it has
policy they add more liability coverage oncost us $900 per year. We have made one
their auto policies and home policies. Forclaim, when my daughter was born, and we got
example, you can get an umbrella policy if$3000. Unless you commit fraud you cannot
you have $100K in liability coverage on yourmake  money  on  an  auto  or  home  policy.
auto and home policies. Some people carry
$250K in coverage on their auto. The cost ofI think I have shown you two bargains as far
increasing from $100K to $250K is usually asas insurance goes. Anyone with something
much, if not more, than having the umbrellaworth taking should have an umbrella policy.
policy. So, these people carry only $250K inAnyone that is not offered STD benefits
liability coverage for the same price, orthrough their employer should have this type
more, than someone with an umbrella policyof policy. In part three of this series I
and  $1.25  million  in  coverage.will discuss homeowner insurance in more
detail, don't miss it.
The next kind of policy I recommend to those



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