Question of the Day

There will be a financial literacy question posted every day of the month. Answer it and share what you "know." It could be the money question.

The question of the day:

Why is flight insurance sold at the airport? Should you buy it? Alternatives?

Posted 10.20.14 | Answer the question | 3 Comments

Answers

  1. Comment by Garrett Haag on 10.20.14 at 7:50 am

    It is a product that feeds off of peoples fear of flying, it makes a lot of money for the airport.because they rarely pay out, you are better off having term if you need life insurance

  2. Comment by Mike Finley on 10.20.14 at 11:15 am

    Well said, Garrett. Let’s review.

    Flight insurance is right there prior to boarding to “protect” you from a crash. Just as Garrett stated, they are feeding your emotions to pay for a very expensive insurance policy. Stay away. If you need insurance, follow Garrett’s advice and buy a cheap term policy from a place like term4sale.com.

  3. Comment by tIM on 10.21.14 at 6:45 am

    yes because I have bad luck. If there is a disaster or storm, I wouldn’t lose all my money and I know the answer is probably no.