- Nov 9, 2015
- 7,401
- 4,168
I thought we could have a thread about insurance, why you might need it, what types someone would want, etc.
To start I believe we have insurance only for risks that we either can't afford to take or ones we choose to avoid.
So for a retired person with sufficient investments you don't need life or disability insurance for the risk. You might want life insurance for inheritence purposes.
Having car insurance is mostly mandatory, but the limits and coverages can be variable.
We older people all mostly have Medicare and some supplement. Younger and healthy people might be willing to take the risks.
Elder care insurance is another thing that is being discussed, some think it is essential, others a large waste.
House insurance for those with a mortgage is required, for those without one perhaps not worth it.
Comment on these types and add others as you desire.
To start I believe we have insurance only for risks that we either can't afford to take or ones we choose to avoid.
So for a retired person with sufficient investments you don't need life or disability insurance for the risk. You might want life insurance for inheritence purposes.
Having car insurance is mostly mandatory, but the limits and coverages can be variable.
We older people all mostly have Medicare and some supplement. Younger and healthy people might be willing to take the risks.
Elder care insurance is another thing that is being discussed, some think it is essential, others a large waste.
House insurance for those with a mortgage is required, for those without one perhaps not worth it.
Comment on these types and add others as you desire.
