Iíve got my $1,000 emergency fund in place, and Iím working toward paying off my debt. I was wondering what you think about credit card insurance offered through the card companies? It doesnít sound like a bad deal if theyíll make the minimum payment for you if you become disabled or unemployed.
Credit card insurance is just another gimmick, so I think Iíd pass on that if I were you. I donít buy gimmicks.
Hereís the deal. You should already have long-term disability
insurance through your employer. If you donít, then you need to get it today. That way youíre already covered and can make the payments if you happen to become disabled somewhere down the road.
Remember, youíre also working your way out of debt and building your emergency fund. So in a sense, youíre going to use your emergency fund as insurance against bad things happening while you knock out that debt and beyond!