5 Unnecessary Insurance Policies That Are Wasting Your Money
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Everyone knows that insurance is important, but when you look at all of the different types available today, you can feel overwhelmed.  In fact, some of the insurance policies that you may already have purchased are completely unnecessary.  The following are five popular types of policy that can wind up being a waste of money.


Limited health insurance policies, known as mini med insurance, actually offer very little coverage.  These policies will do very little to help you in case of an actual health emergency.  At best, they will only cover minor problems that you may have been able to afford out-of-pocket anyway.


Car rental insurance isn’t needed if you already have your own car insurance.  The policy that you already have should be able to cover you in case of an accident.  The only time that you might want to buy the insurance at the rental counter is if you are driving outside of the United States.


Term life insurance can also be a big waste of money, and it ends at the end of the term, unless you renew.  The renewal is often quite expensive.  Some people claim it is needed, but this is generally not the case.  Other insurance offers better coverage.


Mortgage insurance, which is akin to life insurance for your house, can help to pay off your home in case of a tragedy, such as your death or the death of your spouse.  The cost of this insurance is extremely high, and only those who have a terminal illness should consider it (although the very fact that you have such an illness may actually exclude you from purchasing the policy).


Divorce insurance is another policy that you don’t need.  For people who are concerned about their marriage from the start, this is a waste.  You wouldn’t be able to collect unless you’ve been married for at least four years, and this type of insurance almost seems as though you are betting against your marriage.  The bottom line?  Spend that money to treat your partner to a nice night out every once in a while. It may be the best “marriage investment” you’ll ever make.

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