Do You Have the 3 Insurance Policies You Need?

This post was brought to you by J Women’s Network and Genworth. All opinions are my own. 
Choosing Insurance Polices

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Insurance gives you a lot of peace of mind when it comes to your family and the household finances. I honestly don’t know what we would do without insurance to keep us protected in the event of an emergency, illness, or disability.

With two children – both boys – I expect some injuries to come in the future, so we are making the appropriate plans for insurance to cover us all when it is needed.

There are typically 3 kinds of insurance policies that you need to have in order to secure your family.

The first, and perhaps, most important is life insurance. It is imperative that both members of the household (parents) have a life insurance policy that covers each of them. This entitles the beneficiary (usually the spouse/other parent) to money that will cover the funeral as well as expenses needed to continue running the household.

Secondly, disability insurance is very important as well. This covers an unexpected injury or illness that may leave the insurer unable to work. If you are the breadwinner in your family, suffering a loss of income could be drastic for everyone living under your roof.

This type of policy, however, will allow you to keep functioning. Stay-at-home moms need this type of coverage too, so that your spouse can continue providing for the family even when you are unavailable to do so.

Long-term care insurance is the third essential policy you should have covering you. Even if you are in your 20s and feel you don’t need it now, it is still a good idea to invest as soon as you can. This will cover finances your regular insurance, Medicare, and Medicaid will not, such as nursing homes, assisted living, and hospice care.

Understanding insurance and getting the right policies can be a confusing process. Luckily, Genworth is there to help. Learn from their experts so you can choose the proper plans for yourself and your family.