Friday, December 7, 2007


LIFE INSURANCE, MEDICAL INSURANCE, HOME AND CAR INSURANCE are very expensive and are the hardest payments to regulate in a budget. Almost all states require car insurance in order to drive and having insurance helps if you live in a state that has no-fault insurance where you would have to fix your own car from an accident. In some cases, you are allowed PL &PD which covers only you and can still be expensive but affordable. This type of insurance has no assistance from state or employer to help you so it's totally up to you to find a good car insurance company and make the best set-up to get the insurance and meet the premiums. Life insurance usually is available where you work. The premiums can be low and range from any amount to help with funeral costs. Medical insurance is the most costly but with a little homework on your part can be obtained. Some employers will offer insurance packages and some states offer assistance, depending on your income and size of family. Medical services and prescriptions have gone out of sight cost wise. It is almost impossible to be without medical insurance and it gets worse the older you get and after you retire. Being very determined in your savings will help towards your retirement and these outrageous (sorry, lost it there for a moment) costs. Set up an actual savings account specifically targeted for medical expenses. When we were growing up, incomes weren't big enough to even consider this type of insurance. If you needed to go to the doctor, you made a bill and paid on it monthly like any other due bill. We could go into detail as to why the medical field has gone wild, but be concerned about protecting yourself and getting what you need for your health. It appears most insurance is being geared towards emergency needs rather than preventative medicine when it comes to coverage. This is reflected in what the companies say they will actually cover. Again, a little homework on your part should help with knowing and learning what you can afford. Looking at your budget, we have now come up with necessities that will always be in the budget. Medical insurance really should be one of these items just because it is so expensive. If there is ever anything done by anyone to get it back under control, then ones budget can be adjusted. Until then, commit and save to help keep some control.

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