Suze Orman Advice On Life Insurance: Health And Disability Insurance Tips

Suze Orman and Life Insurance

Life insurance is something that is tickling the minds of many especially with the perennial uncertainties of the economy. This is why life insurance remains one of the in-demand industries today as more and more people are obsessed with keeping their futures secured and well planned. Let us see what Suze Orman, the great American financial guru, has to say on this topic:

  • Suze Orman speaks on life insurance said it’s something that many people have to carefully consider. While purchasing life insurance indeed has many benefits, one should be careful as to the company that offers the coverage. While the premium may be the same generally, the main difference is on the requirements and the classifications of their clients.
  • There are insurance companies that offer whole life insurance to their clients. Such an offer is very tempting because it is very attractive due to the comprehensive package. But one should not jump easily into availing it because there are some provisions there that may not be needed or actually unnecessary. For example, if one worked for a government office, he will be entitled to receive pension upon their retirement. If this package is included in the insurance policy, this will only be redundant.
  • One of the raging debates in the US is whether it is more practical to avail of term insurance or whole insurance. With whole insurance, the premium is higher, although the coverage is wider and more complete. On the other hand, term insurance allows coverage only for a specific time frame and usually do not cover all insurance aspects. One of the deciding factors according to Suze Orman is to select which of the two will be more financially viable.
  • Suze Orman health insurance tips are one of the most sought-after tips from this authority on finance matters. She says that health insurance is important especially for those who are working in risky areas. However, if the company is already providing health insurance, there may be no need to apply for it anymore, although it is important to inquire of the insurance coverage provided by one’s employer.
  • Suze Orman disability insurance advice is also important to those who are afraid that the nature of their job will cause them to become disabled in the future. Again, because disability insurance involves paying premiums, one should not rashly avail of it simply because an insurance dealer is offering it. A more careful analysis of any insurance application will be important to make sure that you will have all your hard-earned dollars’ worth.

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