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The amount I pay for my insurances goes up slightl...
# budgeting
r
The amount I pay for my insurances goes up slightly every month. How do I budget for this? I don't know exactly what the amount will be...should i just set a target for some amount more and then adjust the target every year?
m
car? home? is the amount it's going up somewhat consistent each month?
r
like life insurance I can't tell any consistency the latest policy I have is a life insurance policy required by the bank for my mortage it started in februrary and so far the payments were 145.67 145.67 146.38 147.24
m
While rare in Israel, you should consider switching to a fixed payment life insurance that doesn’t increase over time, like we have in USA. I know they have them, they just aren’t the common product sold.
r
I will talk to my insurance agent I guess
m
there is no marketplace there that you can look through without an agent?
r
I'd rather not enter the market without an agent...the agent is constantly looking at my policies, is aware of when there are "reforms", and when I can switch companies to get better rates, etc.
m
kk in America that is not a good idea but idk enough about Israel to comment
r
I feel like @stocky-school-89127 would "Noe" this stuff
😄 2
s
without looking at all the docs, I guess that those tiny increases are just because the premium is index-linked
its not because you have aged 1 month
r
that's interesting cause i'm looking at two other policies and the amount actually went down at the beginning of this year, but has since gone back up
s
the index can go down as well as up you can usually pay up to 3 or 4 equal installments per yr, but if you pay the premium monthly, its going to be index linked
r
ok...so hadra kushya l'duchtei
s
I don't know their math calculating the index and which index, all I'm saying is that it appears that Baruch understood that you are paying a different premium each month because your age is going up and therefore he recommends paying a fixed amount I am saying that the reason for the premium going up is due to being index linked thats all Here is a ss from a policy that I haveL
r
i know...so again...how do I budget for this (or plan rather, as they've changed budget to plan) since the amounts are not the same?
s
why cant you put the average, and carry over any small change to the next month
r
average of what?
s
of past few months
i
Is there a marketplace where I can compare life insurance options? In the US
m
i
Aren't they agents?
m
They are a broker serving as a digital marketplace
f
Personal anecdote: Policy Genius didn't quote me the best rate, local agent did. This site showed me all the same policies the agent had access to: https://www.term4sale.com/
m
👍👍👍
c
@mysterious-tomato-10057 you have data about buying yourself vs. agent?
m
I encourage people to shop around via marketplaces and via agents, bring me all their best offers, then pick the best one. I’m not particularly loyal to any one place, just getting people the best plan for them
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