Myth #8: If I Need to Stay in a Nursing Home When I am Older, The Government Will Pick Up the Bill.

Again, don't count on Medicare or Medicare Supplemental Insurance to pick up the bill. If you can qualify, Medicaid may pay up to half of the cost. Choosing long term care insurance can help you pay for the costs of a nursing facility or home care if the need arises. Also, do you really want your family to have to pick up the bill if you acquire a long term illness or disability? Long Term Care Insurance is a great option and if started early in life the premiums can be very reasonable. Find out more at Who Should Consider Long Term Care Insurance?

Myth #9: Umbrella Insurance Coverage is Just for Rich People.

Umbrella insurance is not just for the wealthy. With the common occurrence of lawsuits, umbrella insurance is a must for every home, auto, and watercraft owner. Umbrella insurance is designed to give one added liability protection above and beyond the limits on homeowners, auto, and watercraft personal insurance policies. With an umbrella policy, depending on the insurance company, one can add an additional 1-5 million in liability protection. Learn more about umbrella insurance at Why Every Policyholder Needs Umbrella Insurance

Myth #10: People Who Decide not to Purchase Health Insurance Don't Affect Others.

People who choose not to purchase health insurance eventually affect the lives of every American. There are many reasons why some Americans are uninsured. Regardless of the reasons, having so many uninsured individuals drives up the cost of goods when people get sick and cannot do their job. In addition, when many people in a company choose not to purchase health insurance, it sends a message to the employer that health insurance may not be an important benefit which in-turn could cost other workers a loss of their health insurance benefit. Also, when healthy people choose not to be a part of their company's health insurance pool, it raises the costs for everyone else because the risk is spread through less people. And, when people make such low wages that they cannot afford health insurance, the number of people eligible for Medicaid rises (which is paid by your tax dollars!). For these reasons, many have encouraged the government to switch to a Universal Health Care System where the government would help manage health care. Learn more at What is Universal Healthcare? Bobbie Sage