Suze Orman’s Insurance Action Plan

Posted on July 6, 2008. Filed under: -- Book Summaries, -- Building Wealth, -- For The Investor In YOU, -- Insurance Help For YOU, -- Top 10... | Tags: , , , , |


 

I’ve gotten good response emails from a few readers that liked my Suze Orman post. They too say they cant handle her show, but appreciate her knowledge and advice. 

Since I’m one that just loves deals and knowledge, I wanted to share with you what I found when investigating ways to be a better insurance consumer. I got this tidbit from Suze Orman’s book “Women & Money: Owning The Power To Control Your Destiny.” Although the title implies that the book is for women, the advice is for all. This is verbatem from her book. I’m not an insurance whiz by any means, but I do find the information valuable to readers so I still wanted to type it up and post it anyway. 

SUMMARY FOR LIFE INSURANCE & HOME INSURANCE:

-Get life insurance to protect anyone who is dependent on your income.

-Buy term insurance. Do not buy any other type of insurance.

-Opt for a guaranteed renewable policy. 

– For maximum protection, aim for a death benefit that is equal to twenty times the annual income your dependents need to cover their living costs.

– Make your revocable living trust the beneficiary of your life insurance policy.

HOMEOWNERS

-Make sure your dwelling limit coverage is updated to reflect the current cost of rebuilding your home if it were destroyed.

-Check that your dwelling limit coverage is either guaranteed replacement cost or extended replacement cost. 

-Make sure your possessions are insured for replacement value; if you just have actual cash value coverage, you need to upgrade your policy.

-Confirm that your policy has an automatic inflation adjustment.

-Find out your coverage for additional living expenses. Ideally, you want a policy that will pay your living costs indefinitely while you rebuild/repair your home. 

-Get a separate personal umbrella policy if you’re assets are valued at more than $500,000.

RENTERS

-Make sure you have your own personal renter’s policy. If the value of your personal assets exceeds the liability coverage in your policy, buy an additional personal umbrella policy.

CONDO/CO-OP/TOWN HOUSE OWNERS

-Get your own personal condo owner’s policy. If the value of your personal assets exceeds the liability coverage in your policy, buy an additional personal umbrella policy.

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The Dow Jones Industrial Average: All 30 companies at close today. 6/27

Posted on June 27, 2008. Filed under: -- Today's DJIA 30, -- Uncategorized | Tags: , , , |


TODAY’S OVERALL PERFORMANCE: 11346.51 -106.91 (-0.93%) .bear market

 Please note that the Dow 30 Components Chart is courtesy of Cnn’s Money web page. Thanks, Cnn!
Company Price Change %Change Last Update †
3m Co 69.51 -0.75 -1.07% 6/27 4:00pm
Alcoa Inc 35.38 +0.08 +0.23% 6/27 4:00pm
American Express Company 38.19 -0.70 -1.80% 6/27 4:00pm
American International Group, Inc. 27.75 -0.34 -1.21% 6/27 4:05pm
AT&T Inc. 32.76 -0.71 -2.12% 6/27 4:04pm
Bank of America Corporation 24.59 -0.22 -0.89% 6/27 4:01pm
Boeing Co. 66.92 -1.29 -1.89% 6/27 4:00pm
Caterpillar Inc. 73.75 -0.53 -0.71% 6/27 4:01pm
Chevron Corp 98.14 +0.73 +0.75% 6/27 4:00pm
Citigroup, Inc. 17.25 -0.42 -2.38% 6/27 4:01pm
E.I. du Pont de Nemours and Company 42.69 -0.13 -0.30% 6/27 4:04pm
Exxon Mobil Corp 86.55 +0.14 +0.16% 6/27 4:01pm
General Electric Company 26.26 -0.27 -1.02% 6/27 4:04pm
General Motors Corporation 11.55 +0.12 +1.05% 6/27 4:01pm
Hewlett-Packard Co. 44.58 -0.09 -0.20% 6/27 4:04pm
Intel Corporation 21.49 -0.10 -0.46% 6/27 4:00pm
International Business Machines 120.05 -1.08 -0.89% 6/27 4:01pm
Johnson & Johnson 63.57 -0.69 -1.07% 6/27 4:02pm
JP Morgan & Chase & Co 35.05 -1.27 -3.50% 6/27 4:03pm
McDonald’s Corporation 56.50 +0.05 +0.09% 6/27 4:00pm
Merck & Co., Inc. 36.98 +0.78 +2.15% 6/27 4:01pm
Microsoft Corporation 27.63 -0.12 -0.43% 6/27 4:00pm
Pfizer Inc 17.28 +0.11 +0.64% 6/27 4:02pm
The Coca-Cola Company 51.84 -1.38 -2.59% 6/27 4:03pm
The Home Depot, Inc. 24.02 -0.64 -2.60% 6/27 4:01pm
The Procter & Gamble Company 60.49 -1.76 -2.83% 6/27 4:04pm
United Technologies Corporation 61.15 -1.64 -2.61% 6/27 4:01pm
Verizon Communications 34.28 -0.03 -0.09% 6/27 4:02pm
Wal-Mart Stores, Inc. 56.41 -0.42 -0.74% 6/27 4:00pm
Walt Disney Company (The) (Holding Company) 31.57 +0.04 +0.13% 6/27 4:01pm
Dow 30 Components
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