Comments on: 3 Types of Insurance all Parents Should Have

By: ImpersonalFinance

ImpersonalFinance — Tue, 11 Feb 2014 18:39:26 +0000

I think these are definitely things almost everyone should have, even those that are married without kids. I would hate to leave my wife in the lurch because I didn’t spend a couple of hours preparing.

By: StaplerConfessions

StaplerConfessions — Mon, 10 Feb 2014 13:58:00 +0000

Ditto the disability insurance. As a friend of mine once said: “I’ll get disability insurance first, because if I’m not covered, I’ll be around to see the fallout!” Granted, he isn’t married — so, thinking about the fallout of leaving his family destitute isn’t nearly as upsetting to him!

By: DC @ Young Adult Money

DC @ Young Adult Money — Sun, 09 Feb 2014 21:40:29 +0000

In reply to Charles@gettingarichlife.

Charles@gettingarichlife Disability insurance was another one I was going to add! Definitely an important insurance to consider if you have children (or even if you don’t).

As far as taking out life insurance on your children, I haven’t really thought about that before or read much about it. I can see why agents would suggest it, though, as they are getting paid on commission most of the time.

By: Charles@gettingarichlife

Charles@gettingarichlife — Sun, 09 Feb 2014 21:36:57 +0000

David,
I would also recommend disability insurance to protect your income. In terms of life some parents take them out on children under the recommendation of an agent. You don’t rely on your children for income and it’s a waste of money as they 99.9% will get cheap insurance in their adult life.