Please note I am confused about exactly what insurance does what , which ones are actually important. Presently we have a whole life policy insurance, a morgage insurance. Do we need another?
2006-11-24 07:58:57 · 8 answers · asked by ANGEL 1 in Business & Finance ➔ Renting & Real Estate
Well, marriage has little to do with insurance. Yes, you do need more insurance. You need home owners insurance that covers fire, flood, and earthquake damage (and any other natural disaster that occurs in your area). I suggest you get health insurance as well if you don't have any.....
2006-11-24 08:08:04 · answer #1 · answered by cyanne2ak 7 · 1⤊ 0⤋
You need homeowner's insurance for the home itself.
You do NOT need both whole life AND mortgage insurance. I'd suggest that you dump both for a 20 year term policy to cover your home mortgage and your spouse's living expenses if anything should happen to you. Whole life is a terrible investment and is no bargain as insurance either. It's a great deal for the agent, but sucks for the insured.
You may need additional liability insurance. A $ million blanket liability policy is cheap and will supplement both the liability portion of your homeowner's insurance and your auto insurance policies.
2006-11-24 08:12:21 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Since your are married you should have a very larger life insurance policy on the spouse. So large they know the can not divorce you, without a little fishing trip on Christmas's morning. If you want a happy marriage they should have one on you to, that way if one of you mess up you wont sleep well. I sure this would keep the divorce rate in check.
2006-11-24 09:32:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
My opinion
Homeowners insurance
Mortgage Insurance? (if you have enough life insurance, this isn't necessary)
I prefer Term Life insurance over whole life, then take what you save and put it in a 401K or IRA.
You will usually get a much better return that with a whole life policy.
Health insurance
Disability Insurance
2006-11-24 08:09:27 · answer #4 · answered by Anonymous · 1⤊ 0⤋
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RE What kinds of insurance should I have when you own your own home and are married.?
Please note I am confused about exactly what insurance does what , which ones are actually important. Presently we have a whole life policy insurance, a morgage insurance. Do we need another?
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