Some insurance not a good investment - AmericaNowNews.com

Insurance you want to avoid

Many insurers offer so-called "cancer insurance" plans. They're promoted as a way to fill in the gaps of a traditional healthcare plan, and help you cover the high costs of cancer treatment. 

Here's the deal, according to our money expert Nathan Bachrach: Buying a cancer insurance policy does not guarantee twice the insurance payout if you get sick.

Many basic health insurance policies already have something called a "coordination of benefits clause" that says it will not pay duplicate benefits. So anything the cancer policy covers, your regular policy will not. 

Also a negative - most of these plans do not cover skin cancer, one of the most common cancers in the United States.

Another one you should probably skip is life insurance for your kids. The whole point of life insurance is to provide for your family if something happens to you and your income is lost. Since most kids aren't big earners, it doesn't make much sense.

Some companies bill kids' life insurance policies as a way to save for college. But Nathan says there are better ways to do that, such as a 529 plan.

Copyright 2012 America Now. All rights reserved.
  • Most Popular StoriesMost Popular StoriesMore>>

  • Six deadly foods for dogs

    Six deadly foods for dogs

    Every pet owner knows a dog can get into just about anything around the house. One woman found that out the hard way when her dog ate a bunch of grapes! Turns out, that's one of the most dangerous foods
    Every pet owner knows a dog can get into just about anything around the house. But these common snacks could be fatal for Fido.
  • Physicians warn against giving melatonin to children

    Physicians warn against giving melatonin to children

    Parents desperate to get their troubled sleepers to bed are turning to synthetic melatonin, which is a supplement sold over the counter. But expert warn it could have adverse effects on child development.
    Many adults turn to sleep aids like melatonin, but now more parents are giving them to their kids, too. We talked to physicians to see what they had to say about how it could affect your child's development.
  • Wiping the "sleep" from your eyes

    Why not to wipe the "sleep" from your eyes

    The Sandman may lull you to sleep, but he also leaves a few sprinkles behind in the corners of your eyes. People call it sleep, eye goop, crusties or sand, but no matter what you call it, the gunk keeps
    The Sandman may lull you to sleep, but he also leaves a few sprinkles behind in the corners of your eyes. People call it sleep, eye goop, crusties or sand, and no matter what you call it, it always appears after you've awoken.
Powered by WorldNow