Insurance - legal extortion

Yes you can tell I am not a fan of insurance.  I understand the need for it, just as I understand the need for lawyers.  Neither of which has ever done any good for me or for anyone I know.

Car insurance - required by state law.  I was rear ended by someone who did not have insurance or a license to drive.  My company paid for the repairs and my rates went up and I was told if I filed another claim within 2 years my policy would be cancelled.

Life insurance - They are betting you will pay in more than they will have to pay out. Oh, don't die in a war, flood (act of God) or by suicide.

Health insurance - Oh don't even go there.

Home insurance - better have a lot of add ons here.  Have you seen all the ads lately telling you that any home can flood?  A friend of mine, brand new house, had roof damage from a storm.  Insurance said it was "wind driven rain" and therefore not covered.  No flood insurance.

So with my attitude in mind, I will try to present some unbiased opinions on insurance and why you should pay out your hard earned money to be protected. It may be minimal protection but in the worst case scenario everything counts.

If you sell insurance, I invite you to contact me to correct any invalid statements that I make. I will publish your remarks, your name and the company you represent. You may contact me at Insurance Rebuttal  Please put Insurance Rebuttal in the subject line.

• Long Term Care Insurance
  
  Long Term Care Insurance necessary evil, life saver or just another dark hole.