Paying for insurance month after month (when you don’t need it) can be a real drag. You might even feel like you’re paying for nothing—but don’t get tricked into believing that. Insurance might not be as flashy as something like your debt snowball, but insurance is just as important when it comes to things on the defensive side of your game plan here.
Think of insurance like a life jacket. It feels like a pain when you don’t need it, but when you do need it, you’re freakin’ thankful to have it there. It’s all about transferring the risk here. Without insurance, you could be one car wreck, sickness or emergency away from having a huge money mess on your hands.
But how do you know which types of insurance are worth it and which types are useless? We’ve got you covered.
Here are the eight types of insurance Dave Ramsey recommends:
Term Life Insurance
Auto Insurance
Homeowners/Renters Insurance
Health Insurance
Long-Term Disability Insurance
Long-Term Care Insurance
Identity Theft Protection
Umbrella Policy
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