IMOR Financial - 5 Must-Have Insurance Policies for Everyone

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5 Must-Have Insurance Policies for Everyone

An insurance policy can protect against the unexpected events in  normal life such as floods, fires, car accidents, and death. We cannot  stop disasters from happening but by having good insurance in place it  can help with and provide financial coverage for the unexpected  expenses. 

Here are the 5 insurances you need: 

1. Long-Term Disability Insurance. Some people choose to ignore the  prospect of a long-term disability. They think that nothing will  happen to them, and they rely on hope to protect their future  earning power. Not a good idea. By having a disability policy that  provides coverage to be able to live your current lifestyle even if  you can no longer work. Long-term disability is not limited to  disabilities or injuries occurring at work or while working. 

2. Life Insurance. This type of insurance protects the loved one that  would be financially dependent on you. If parents, spouses, or  children would have a financial hardship if you passed away, life  insurance would be big on your list of required insurance policies. Think  about how much you earn and the number of years you plan to  remain an employee and purchase a policy to replace that income  in the event of an unexpected event. 

3. Health Insurance. With the rising cost of medical care that is  enough of a reason to make health insurance a must. A simple  doctor’s visit can lead to a large bill. The serious injuries that  result in a hospital stay or surgery can create a bill that you would  have to pay over time. Health insurance is a financial burden to  almost everyone, but the potential cost for not having health  insurance is much higher.

4. Homeowners Insurance. Replacing your home is an expensive  proposition. But, having the correct coverages in place can make  the process less difficult. When you are shopping for a policy  make sure you research it out and look for the companies that  cover replacement cost of the structure and contents, and the  cost of living somewhere else while the home is being repaired.  To receive an accurate quote find out what local builders are  charging per square foot and multiply that number by the  amount of space needed to replace factoring in upgrades and  features. You may consider coverages for liability for injuries that  may occur on your property. 

5. Auto Insurance is required at some level by law in most places. If  you are not required to have it and you are driving an older  vehicle that has been paid off for a long time, look at what you will  need for coverage. Automobile insurance is something you  should not skip over. If you are involved in an accident and someone is injured or property is damaged, you may be subject to  a lawsuit that could cost everything you own. Having no auto  insurance or purchasing what you are required to be covered by  law saves you a small amount of money and puts everything you  own at risk. 

The bottom line in life is losses are unavoidable and how they impact  our life varies. Insurance lessens the impact by providing financial  benefits for covered losses. There are many different types of insurance  available, but there are some that are at the top of importance.  

Shop carefully and we at IMOR Financial can assist with finding you the right insurance for your needs. If you are interested in learning more, please email Vickie at This email address is being protected from spambots. You need JavaScript enabled to view it. or call at 717-790-2171.


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