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Insurance!!

My new hubby and I are taking the Dave Ramsey Financial Peace course right now, and are really enjoying it.  We both have been pretty good with our money as single people, and have similar outlooks on debt, so we aren’t taking it for the “Debt” part as much as for the framework it gives to build our budget together.

I have a different idea of where money should be invested than H, of course, and we needed the communication guidelines as well as the motivation to actually sit down and do a real budget.

It has been very helpful for me in making me feel included in the budgeting process, instead of like a pesky line item added into the H’s budget.  Now we both have input and are working together on it, instead of me trying not to “mess up” H’s systems.

The topic last night was Insurance and I think it should be required for everyone graduating high school to take that particular section.  I remember making big insurance decisions in my first job, not really understanding them.  Especially when I got laid off, I was unclear on COBRA and my other insurance options, and ended up wasting literally THOUSANDS of dollars on unnecessary insurance coverage.

Because of last night, we are looking into our insurance responsibilities and are going to talk to our parents about their insurance.  The most important insurance you can have after age 60 is Health insurance and then Long Term Care insurance.  Long Term Care is for if you need to move into a nursing care facility, or have home health care provided.
I’m positive neither set has it (both are relatively good health, and young-mid 60’s), and from the information presented, it could be a life saver, literally.  Right now, not having priced any such insurance, I would be willing to pay part or all of a policy for the parents, I consider it that good of an investment.  Hopefully, they will be open to that discussion.

What is something you wish you had known about insurance before?  What would it have saved you?

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