What Renters Insurance company has coverage in case of job loss?
There is no product that combines those coverages. A renters policy protects you in the event of a fire or theft and it covers your personal liability. A disability policy replaces your income if you are unable to work due to sickness or injury. A workers compensation policy replaces your income if you are unable to work because you were injured while working. Unemployment Compensation (paid by your employer) replaces a portion of your income if you lose a job through no fault of your own (i.e. laid off) There is no single "super policy" that covers it all.
Is it worth it to get short- and long-term disability insurance?
Your "regular" insurance does not cover short term disability. Your "regular" insurance (aka: health insurance?) covers your medical treatment. Short term disability provides supplemental income in the event you can't work for 6-12 months depending on the policy. If you have savings and you want to self insure this, that's an option (i.e. self insure means you are going to take the risk that you won't need it and will use other money if you do). Long term disability provides supplement income for the remainder of your working life. Social Security Disability will kick in after a period of time but the limits are generally much less than the limits of most LTD policies. These insurance policies have nothing to do with how dangerous your lifestyle is. If you are in a car accident what does that hae to do with a "dangerous" lifestyle. Are most long term illnesses in people under 50 are related to their lifestyle? Unfortunately, I've known several people with serious illnesses in their 20s and 30s and not one that I can think of is related to their "lifestyle". You might want to "go shopping" and see if you can get individual plans that provide better coverage for less cost.
Is there a difference between homeowner's insurance and mortgage insurance?
Yes, huge difference. Homeowner's insurance (also called hazard insurance) is required insurance that you must get to protect your house from damage, and to protect your belongings. This insurance is for your protection; but the bank requires that you get it because the loan is backed by the house, so if anything happens to it then they want it to be covered. Mortgage insurance (also called pmi - private mortgage insurance) is a monthly payment added to your mortgage if you put less than 20% down on the house. This insurance is for the bank's protection because you are a risky borrower if you but less than 20% down. They will continue charging this (usually somewhere between $50 and $150) until you have 20% equity in the house. Keep in mind that this will take a long time though because in the beginning, the majority of your mortgage payments go towards interest, not principle, so you are building up very little equity early on. The bigger your downpayment the quicker you will get to 20% equity and be able to cancel this extra insurance. If you think this sounds like a ripoff then you are right - I don't know how banks get away with charging you this insurance that covers their backs, but that is how it works.
Does AFLAC insurance cost anything to have?
Yes, it does. There's no such thing as free insurance. Aflac specializes in short term disability and supplemental plans. How much it costs, depends on how much coverage you want, and in many cases, how much the employer kicks in.
What is life insurance and advantages of life insurance?
Life insurance offers is a contract between an insurance agency and insurer that offers you the risk coverage in case of any accident or in worsen situation. Your life insurance policy can helps and fulfil monetary needs providing health cover for your medical expenses. It also provides you the investment opportunity as it is also considered as long-term investment instrument.As wise men have always said, live in the present because future is an uncertain myth. Whether you’ll live till 60 or even 50 is still not sure. Knowing that the first thing you would do is secure your family financially, and the best way to do that is by investing in life insurance. Besides, death and disability can never be planned, all you can do is prepare for it. So, people subscribe to life insurance policies and pay premiums as long as they are alive to ensure their family/ the beneficiary gets the benefits in the event of their death.Now, assuming you have already understood what a life insurance policy is, below are the advantages of the same:The insurer pays a hefty amount (as promised) to the beneficiary so they can sustain their life comfortably after the death of the insured. Hence, your family is financially covered after you.Life insurance enjoys favourable tax treatment, unlike any other financial instrument. For instance, Death benefits are generally income-tax-free to the beneficiary. Not just that, the cash values grow tax-deferred during the insured’s lifetime.The insured can claim tax benefits under section 80C every year while they are alive.The extra advantages or benefits of life insurance are guaranteed income, loan facility, habit of saving and risk coverage.