Thursday, December 3, 2009

Insurance Costs for Families

By Jorden Meltz

During a time of economic uncertainty for many, something that has been a constant for many families is figuring out how to budget for insurance costs. This can be seen in the state of Maine, where it has become common for insurance premiums to be greater than a family's mortgage payment. In addition, the FHA in reaction to the real estate market has decided to try and raise down payments for perspective homeowners looking to take advantage of government-mortgage guarantee programs. Figuring out to balance homeowner and insurance costs is something that families deal with on a monthly basis and most likely the emphasis on these expenses has increased over the past year. There is a light at the end of the tunnel for some though, as a study on the current health care legislation predicts premiums for employer-sponsored insurance programs will not change and may potentially decrease. For many this news will be welcoming, as lower premiums will allow a family to focus their budget in other areas that may be of concern.
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