I doubt many people enjoy sorting through insurance paperwork, but the paper cuts and headaches are worth the hassle. Some of my friends thought rental cars were included in their car insurance only to find – after being in a car accident – that they weren’t. My friends ended up having to pay their deductible as well as the cost of a rental. Ouch. If they had reviewed their coverage, they might have noticed the gap in it and paid the few extra dollars per month to have a rental included in their auto insurance.
The phrase “no-cost life insurance” is a little misleading. “No-cost” doesn’t mean a free pass on life insurance; rather, it refers to your ability to be paid in full if you outlive your policy. Another term for this type of policy is “return of premium (ROP) term life insurance.” With this particular insurance, your premiums will be repaid to you, either partially or in full, if no death benefit has been paid by the end of your insurance term. [Read more…] about No-cost life insurance?