Added: 11/28/2005 |
Marriage insurance ? fashion or necessity?In fact, a divorce is not the most frightening experience, when the matter concerns a marriage. If there were no other cases we prefer better to keep silent, we would not have a term "marriage insurance" in our vocabulary. However, more and more young couples are inclined to use marriage insurance as an effective measure of their marriage protection. Certainly, the marriage insurance does not come at the top of the couple's list of wedding preparations, though it is among the priorities of many thoughtful couples.
To have your marriage insurance ready, you should update all insurance policies with your spouse and include or cancel needed and unneeded points. Generally, your marriage insurance can cover all items, which you consider important to insure. Most individuals obtain insurance to protect themselves and their family for such cases, as a sickness or an injury on the job or a death of one spouse, and to protect the things, they value an including property, jewelry, wedding rings, etc.
Consider four main categories of insurance that should be covered:
1) Automobile insurance is a necessity today, as most countries require car owners to carry it. A main coverage of the automobile insurance includes liability (a bodily injury and property damage), medical payments, collision, comprehensive and uninsured motorists.
2) Property insurance contains either your real property, such as your house and other structures, or your personal property, such as furniture, clothing and appliances. The property insurance generally protects you against personal liability and property that is destroyed. Insuring your personal property, do not forget to enlist your wedding rings. Wedding ring insurance is more than a fashionable statement today since your wedding ring is a symbol of your love and commitment. Certainly, insurance will never substitute a sentimental value of your wedding ring, but at least, it will cover your expenses if something happens to it.
3) Life insurance is subdivided into the term insurance that does not have a cash value or an investment component and is written for a certain period of time (five or ten years), and whole life, universal, variable, and variable/universal life insurance. They all have the investment component. A primary reason for buying life insurance is not to protect your life, as one may think, but to protect your family from losses, associated with death. A life insurance policy specifies an amount of money or face value to be paid to beneficiaries, when the insured dies.
4) Health insurance has two types: medical and disability. Medical insurance is in charge of the initial hospital surgery and supply costs, while disability insurance protects your earning power and income in case you cannot work due to an illness or an injury. Pay attention to the type of disability insurance you choose, since there is disability insurance, paying you a benefit if you are unable to work at your own occupation and disability insurance for the case, when you are unable to work at any occupation. Regardless the type, disability insurance will pay you from one-half to two-thirds of your gross income.
You can save a considerable sum of money if you study more resources, dealing with marriage insurance (at least three of them), and compare prices and benefits; additionally, buy more than one type of insurance from the same company.
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