Liz Weston
speaker
110 appearances
2 recordings
1 series
first heard Nov 2024
last heard Nov 2024
Liz Weston’s voice in public audio — every appearance, attributed to the second.
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Appearances
All right. Well, let's move on to hospital indemnity coverage. This is something that our listeners might know of because of a certain duck in those advertisements. Is this something that's generally offered by employers in a benefit package?
So even though you don't recommend it necessarily, can you explain what it is, what hospital indemnity insurance does and what purpose it serves?
So it's basically like they're just giving you cash, essentially.
And finally, John, let's have you explain critical illness insurance for us. Pretty much what it sounds like, right? Insurance in case you get a critical illness.
So once again, if you can get the disability policy, this might be a backup.
Okay. What's the extent of the benefit that you usually get from this insurance? Like cancer or Parkinson's or something like that could keep you out of work for months, if not years. How long do the payments go on and how much are they usually?
So if you have like a family history of cancer or something like that?
I assume there's a pre-existing condition clause though, right? If you already have cancer, can you get this coverage?
this all feels a bit overwhelming. And like, if I'm not insured for all the worst case disasters that could ever befall me, I'm in trouble. So is there such a thing as too much insurance against life?
Oh, that's super helpful.
Why are women considered a higher risk?
Put you on the spot here, John.
So it's actually based on what the insurance companies are experiencing, not just because they've decided that women are flaky.
Very good. So the rules of thumb you were giving us are really helpful. Is there anyone that doesn't need disability coverage?
Okay. So if you are approaching retirement and you're all set or you're Elon Musk, you probably don't need disability insurance.
John, thank you very much. We really appreciate your help.
Yeah. The bigger problem is that people get overwhelmed with all their choices, and then they don't do anything to protect themselves and their loved ones, or they don't do enough. Our guests gave us some great information about how to think through this coverage and fit it in with all the other stuff that we want to do with our money.
And of course, we have lots of resources on the NerdWallet site to help you figure all of this out.
We're talking about pets. Oh, my favorite topic. Well, pet insurance, at least. It's one of the many benefits you'll find companies offering during open enrollment, along with things like gym memberships, adoption assistance, and we can't forget, insurance for caring for your eyes and teeth.
And remember to follow, rate and review us wherever you're getting this podcast.
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