Despite all the talk of constriction in the credit markets, Wall Street's buyback binge continues. The latest adherent to the "corporation, buy thyself" philosophy is large-cap property & casualty (P&C) insurer Chubb (NYSE: CB), which last Thursday announced an "up to 28 million"-share buyback of its own stock ... and saw the value of that stock fall 2% in response.
Most of us know enough to draw up a will, especially if we have dependents to protect. But what a majority of folks fail to do is to secure disability insurance, something they are far more likely to need. Don't believe me? Then try these statistics on for size:
Insurance coverage should give you incentives to act on good behavior. But when any accident -- even one that's not your fault -- forces you to file with your own insurance company, how are you rewarded for trying your best?
Let's say you were lucky enough to be able to retire early. Or maybe you find yourself in an early retirement not out of your own choice. Chances are, not only have your regular paychecks stopped coming, but your company-provided health insurance is also gone.
Health insurance can protect you from huge medical bills. Yet for a variety of reasons, many people go without health insurance. Now, government leaders are taking a new approach toward making sure everyone gets the medical care they need.
Here's a bit of insurance trivia for you: Nearly 25% of all claims the National Flood Insurance Program pays out are for policies in low- to moderate-risk areas. This statistic should serve as a reminder that even if you don't have a beachfront home, or a lovely cottage on a lake, or even a trailer down by the river, you might still want to make sure you've got sufficient protection against floods.
If you're assuming that your home insurance policy covers flooding, you're probably wrong. Most such policies don't. In fact, grab a copy of your policy. I'll wait. You might be surprised by what's not covered when you sit down to read it. I found out that my own policy didn't protect me against earthquake damage, so I opted to pay a little extra for that.
Here's another thing that might surprise you: If you're watching a TV reporter standing in a rain slicker, describing a hurricane that's pounding the shore a few states away from you, it's too late to buy flood insurance to protect yourself from that storm. Flood insurance policies typically take a month or so to kick in.
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