What is your IQ insurance?

What is your "Insurance IQ"?

If you're like most, you probably do not know much about the insurance you want. According to the study of the Insurance Barometer 2012, 45% of consumers rated "knowledge" either the first or second most important factor in buying life insurance. However, one third have delayed their purchasing decisions because they do not know how and / or what type of life insurance to buy, and more than half say that they need more insurance delaying life for the same reasons. And chances are, with regard to other types of insurance, lack of knowledge is probably just as universal.

If you in the "I want to know more about the insurance, but do not know where to look" category, National Consumer Safety Week (March 3-9 ) is the perfect time to inquire. NCPW is a coordinated campaign that encourages consumers nationwide to take full advantage of their consumer rights and make better decisions.

And when it comes to insurance, while a little knowledge is not a dangerous thing, much more knowledge is better. To make the right choice in the type of coverage and amounts, you must first know what you not knowledge and get answers

Start by answering the following questions :.

life insurance

• Is someone depends on you for financial support or other form of assistance as full time parenting or babysitting?
• do you have money set aside to pay your debts in the event of your death? Have you know how your estate would be liable if you died tomorrow?
• If you leave a large estate, your heirs do have the financial means to pay the estate tax?

disability

• If you were unable to work because of a disabling illness or injury how you pay your bills?
• Do you know how to calculate your future earnings?
• Are you self-employed or otherwise not covered by workers' compensation?

long-term care insurance

• If you were to need long term care, savez- you what part of the cost, if any, would be covered by your health insurance? For Medicare?
• Do you know the average annual cost for full-time nursing home? On aid to the nursing home?
• Do you know the difference between skilled care, intermediate and custody? Between nursing homes, assisted living facilities and day care centers for adults

These are just some of the questions that the LIFE website can answer ?; Just click on the link above subject. And once you have a better understanding of the different types of insurance, and situations where they come in, you will be in a better position to make an informed decision. Finally, armed with your new knowledge, contact your local insurance professional to choose the right type and amount of insurance you need to protect your future and that of your loved ones.