I have never really given too much thought to the things I prepay for vs. postpaying for them. Just wanted to share some thoughts about how I have come to the conclusion that's a good thing to prepay for some services.
I prepay for my medical coverage - It's a good thing because I sure would be hard pressed to have to postpay for the services provided by my doctor, especially any kind of surgery.
I prepay for my automobile coverage - It's a good thing because I have been in accidents that would have caused me to file bankruptcy if I wasn't covererd.
I prepay for my automobile warranty - It's a good thing because if I have a transmission problem with my new car, I won't have to come out of pocket thousands of dollars.
I prepay for my life insurance coverage - It's a good thing becuase if I should die prematurely, my family will not have to change their lifestyle just becuase my income is lost.
I prepay for my homeowners coverage - It's a good thing because if my home were to burn down and my property was destroyed it would be virtually impossible to postpay to replace it.
I prepay for my life events legal plan - It's a good thing because in this sue happy culture we live in, our family would be wiped out financially. In addition to that I would rather prepay for the ability to have legal consultation that postpay hundreds of dollars per hour.
I prepay for my identity theft coverage - It's a good thing because if my identity is compromised, I don't have the expertise nor the 600 hours it typically takes to get it restored. Secondly My identity is is my most valuable possession.
All in all prepaying for services is a way to save money and have the quality of services that are necessary in our busy lives. I would venture to say that none of us would prefer to postpay for services when we can pay a significantly lowerer monthly premium to have the same services.
Love to hear your thoughts.
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