Financial decisions
@lifecoachjerusalem (1423)
Israel
September 27, 2025 1:53pm CST
I am taking a course to become a financial coach here in Israel. One of the things that we learned in the course is that you should buy insurance for things that if they happened the consequences would be catastrophic, or are mandated by law. So yes, we have to have car insurance and a certain amount of health insurance. But in most cases Life Insurance may not be necessary, and personal accident insurance may not be necessary.
I agree about the Life Insurance, but a few years ago I broke my right wrist, and the Personal accident insurance paid me. So that covered my salary for the two months that I couldn't work.
What do you think?
4 people like this
3 responses
@lifecoachjerusalem (1423)
• Israel
28 Sep
Long term care insurance should be bought early because you never know if you or one of your family members will need this type of care. My husband should have gone into long term care, but he didn't get this insurance in time and I had to take care of him at home, we had to put the hospital bed in the living room, because it was too big to fit in the bedroom. We had a foreign worker, but they only work 8 hours a day and in order to have the worker do the evening wash and feed, I had to give him a two hour break in the middle of the day.
This was 1.5 years of just work work work as a personal care.
I never want to have to do that again!!!
1 person likes this
@porwest (108304)
• United States
28 Sep
@lifecoachjerusalem In the U.S. Medicare and Medicaid will tend to cover in the absence of personal funding, but the problem is that you don't get to choose where your loved one goes, and most likely, it's not going to be a well run facility if the government is paying the bills.
@snowy22315 (196806)
• United States
28 Sep
I think I agree with Jim down below. Long Term care insurance is important, and not enough people have it.
1 person likes this
@lifecoachjerusalem (1423)
• Israel
28 Sep
I have long term care, but since I enrolled at age 50 It will only cover for five years of 24 hour nursing care. I pray that I will never need it.
@luisadannointed (9467)
• Philippines
28 Sep
It is good and important to have insurance, especially for the unforeseen future that you might have trouble with money. It is great that you have that insurance that can cover your bills for two months.
