Money Wellness: Do you need Insurance

Living creates the unexpected. Insurance is meant to be there to help protect you financially. Purchasing the right type and amount of insurance is always determined by your specific situation. Factors such as children, age, lifestyle, and employment benefits play a role when you're building your insurance portfolio. There are, however, four types of insurance that most financial experts recommend we all have: life, health, auto, and long-term disability. If you need a particular type of insurance, it is better to have it even if you never use it. The hard part is knowing the difference between insurance you need and insurance you are better off without. Many people purchase insurance without knowing whether they need it or not. Unless you fully understand insurance, you may be wasting money on insurance products you don’t need. In some cases insurance is a necessity. Paying premiums for insurance you don’t need is a nuisance. When insurance is a necessity, getting the right amount of coverage is important. How much insurance to buy depends on your situation and needs. For more information follow UGA Extension or these links: https://www.investopedia.com/financial-edge/0212/4-types-of-insurance-everyone-needs.aspx