MONEY: Insurance and employment considering the meltdown

Unfortunately, most people get their health and life insurance via their employer.

That presents a problem when you get nuked (i.e., fired, laid off, or quit).

Health insurance is expensive. Hospital bills are catastrophic.

If you have the opportunity, it may be worthwhile to pick up a catastrophic health insurance policy on your own or through a group. Fraternal organizations have such; as do groups such as Independent Consulting organizations.

Money well spent.

Also life insurance. But that is much cheaper and easier.

Now, with respect to life insurance, it’s always better to have one policy than two. The setup fee is wasted. But, I’m going to suggest that you rethink that strategy. ESPECIALLY if life insurance is very important to your family. (Two earner family with children or One earner family with children.)

You may wish to have TWO life insurance policies with DIFFERENT insurers, despite the added cost.

We haven’t seen the current subprime creditmeltdown financial mess hit the Insurance Companies. … … Yet?

By having two policies, you’ll have two ticket in that sweepstakes.

Life insurance is cheap. (Minimal gooferment regulation!)

Health insurance isn’t. (Lot’s of gooferment “help” there!) But, going “naked” is potentially disastrous.

Suggest an insurance review NOW!

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Remember the news reports that 9 out of 10 financial professionals at Cantor Fitzgerald had no life insurance? And, 9/11 happened. I remember my grandparents saying: “A family man, who dies without life insurance, doesn’t die, he absconds.” Big word for them “absconds”. But they were surprising folks. It’s a true then as it is now.

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RANT: Eliminate the SEC

Since the SEC failed to catch Madoff, despite nine years of warnings, I think its $950 million annual budget is obviously a waste of money.

And, what genius eliminated the “Uptick Rule”? And, “mark to market” for illiquid securities; that value is obviously zero. And, on and on.

What’s Chapter 11 for a failed gooferment agency?

Right, give it a budget increase!

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