Before we get too far ahead of ourselves, we need to set up protection.
We need to make sure we take the proper steps to keep ourselves from getting financially ruined.
Before you do anything else in this process…
- Sign up for medical insurance
- Set up your car insurance
- Get insurance on your house
- And, if someone depends on your income, get term life insurance as well (our affiliate partner is Bestow)
Paying an extra $100 a month now (for all of the items above) is way better than owing hundreds of thousands of dollars in the future because of some catastrophic event.
Remember, the best time to get insurance is when you don’t need it. If you wait till you need it, you won’t be able to get it.
Protect yourself today!
Want to learn more? Check out all the helpful posts below!
Helpful Resources
I Died Yesterday... A Message to My Family
“I died yesterday” — No, this isn’t a mysterious message from the crypt and this post won’t make it onto…
The Best Time to Get Life Insurance
The thought of setting up a term life insurance policy doesn’t usually come mind unless you enter a stage of…
8 Reasons Whole Life Insurance Sucks (and What You Should Buy Instead)
I’m a husband. I’m a dad. My family depends on my income and my help around the house – whether…
Bestow Review: Term Life Insurance for Busy People
I just went through the traditional life insurance process with Select Quote. Long story short…I’m about 2 months into the…
5 Steps to Cheaper Car Insurance
Car insurance… It’s that coverage that we know we need, but never want to look at (both because it’s boring…
10 Ways to Get the Cheapest Rates on Car Insurance
According to ValuePenguin.com, the average cost of auto insurance in Michigan is $213 a month. That sucks. Good thing I…
9 Tips to Help You Save on Homeowners Insurance
One of the best ways to save money is by trimming an ongoing, monthly expense. After all, even chopping $5…
8 Comments
This step is probably the least fun…but it’s the most important.
Be sure you’re protected in case the unexpected happens!
Derek, you are so right about how if you wait till you need it, you won’t be able to get insurance! I signed up for all the insurances that you mentioned above to make sure me and my family are taken care in case of unexpected events. We hope that bad things don’t happen, but we have to prepare for things so that we have peace of mind just in case life takes unexpected turns.
Great job, Dara!
Thanks for the reminder. I have all of the coverages mentioned except life insurance. Presently, I don’t have a spouse or children, but I sure a small policy couldn’t hurt.
It is better to protect your wealth financially before you even have it.Say for instance one acquires wealth say in real estate and there is a fire outbreak the property will be gone in a matter of minutes but if it were insured the loss though huge would be minimal because of the protection. This is also true for our health and other valueables
Dead on. Great comment, Chioma!
So true about staying ahead on insurance. When our life insurance policies were up for renewal we were shocked at how much the rates went up, even though we are fairly healthy. Wish we would have sought advice long before that.
This is why I’m hesitant to retire since my medical insurance covers both my retired husband and myself. We’ve always been diligent about having insurance.