Insurance Policies Everyone Should Have

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insurance policy, insurance policiesThe right insurance polices can help safeguard your possessions and earning power

One of the most important steps toward creating a solid personal financial plan is protecting your most important assets. The right insurance polices can help safeguard your possessions and earning power. Here are four types of policies you should never do without:?

Automobile Insurance?
In most places, some level of automobile insurance is required by law. Even if it is not required, you should not skip getting coverage. Without it, a lawsuit can cost you everything you own if you are involved in an accident or injure someone.?
Long-Term Disability Insurance?
Many people ignore the possibility of long-term disability because it is simply so frightening, and everyone thinks ?nothing will happen to me.? Unfortunately, hope cannot protect your future earning power. Instead, choose a disability policy that gives you enough coverage to maintain your current lifestyle, even if you are unable to continue working.?
Health Insurance?
Health insurance is an absolute necessity. Even a routine, simple visit to your general practitioner can lead to a hefty bill, and more serious issues or hospital stays can rack up five-figure costs. Instead of dwelling on the cost of health insurance, think about the potential cost of not having it. That is much higher.?
Life Insurance?
Think about your children, parents, spouse or other loved ones. Now think about the potential financial hardships they would face if you died, then put life insurance high on your list of priorities. Purchase a policy that will replace your yearly income, and factor in the cost of burial, too.?