Stop Worrying about Money Series–Unnecessary Insurance

To continue the stop worrying series, where we are discussing the Suze Orman article, link below.  Here is the next area that she discussed.

Unnecessary Insurance.  Agreed.  Private Mortgage Insurance(PMI), most people don’t choose this, it is forced upon them by Lenders, if their Mortgage is more than 80% LTV.  If you ever have a choice or owe less than 80% LTV get rid of it.  She states Mortgage Life Insurance, agreed, you can get a term life policy much cheaper to cover any outstanding debt, especially through your employee benefits package, check into this.  She also mentions, extended warranties.  This one I agree with her on most every item I own with the exception of one item….can you guess it?  The refrigerator, I learned the hard way about this one….a family can be hard on a frig, especially one with an ice maker, we got a new frig last year and purchased our first and only extended warranty, we will see if we ever have to cash in on it.


~ by debt2dreams on February 3, 2012.

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