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MetLife and
MetLife Auto & Home have the answers you need to help build financial
freedom for your future.
Follow the links below to find answers to the questions of interest
to you.
[Q] I
just bought a new car and got it all decked out with an expensive
stereo and chrome exhaust. It's all part of my car, so I'm covered,
right?
[A] Maybe yes, maybe no. To be sure, contact your agent regarding
any customization to your vehicle after you purchase it to add any
appropriate endorsements. Radios, tape players, CD players, televisions
and speakers are usually covered if they're permanently installed,
but check your policy. Car phones are covered only if they're permanently
installed and have a special endorsement. Tapes and CDs are not
covered by your auto policy unless you add a special endorsement.
[Q]
I'm 23, single and just starting my first real job. I'm wondering
if I need to buy life insurance.
[A] Probably not. Life insurance is designed to protect the
people who depend on you -- a spouse, dependent children, an aging
parent, a disabled relative you support or another loved one you
wish to provide for. Some policies carry a cash value that can be
useful later in life to help pay for a home or education, but there
are other ways of saving and investing for such goals too. Most
life insurance does have a slight advantage in those situations
because it's tax-deferred -- you don't pay taxes on the cash value
until you receive money from the policy.
[Q]
My daughter just began her junior year at college. Will my homeowners
policy cover her possessions?
[A] If she's sticking to the dorm, she is covered under your
policy for both property and liability insurance. This is also true
if she moves into an off-campus apartment, but her personal property
will be limited to 10% of your coverage C (home contents). A renters
policy provides more coverage and protects her against accidental
damage or theft of personal property, including furniture, appliances,
stereo, TV and computer. A renters policy can also cover liability
in case she's sued over an injury that happens at her apartment.
And it covers living expenses if she has to move out while a damaged
apartment is repaired.
Got
a Question?
E-mail it to us at editor@MetLifeYourLife.com.
Or, write to us at: MetLife, Your Life, Dept. LN304, 1716 Locust
St., Des Moines, IA 50309.
If we print your question, we'll send you an official Snoopy watch.
We regret that due to volume we are unable to respond individually
to questions.
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