10 Big Mistakes in Insurance

#1: Knowingly underinsuring any major risk that you could cover inexpensively.

#2: Naming minor children as beneficiaries of a life insurance policy

#3: Using term insurance for permanent insurance needs

#4: Calculating life insurance needs by rules of thumb rather than by assessing your actual circumstances.

#5: Gernerally overestimating coverage under Medicare.

#6: Expecting Medicare to cover a sustained need for long-term care.

#7: Ignoring the need for disability insurance.

#8: Carrying unrealistically low limits under your liability policies.

#9: Carrying inadequate debuctibles on property/casualty insurance.

#10: Carrying collision coverage on an in expensive automobile.