Dave Ramsey has recommended Zander Insurance for over 20 years –
but what coverages does he recommend? Insurance is intended to cover those risks that you can’t handle financially, and in some cases, the cost of insurance is so low there’s no reason to go without it.
Below we have highlighted the core types of insurance that Dave feels need to be considered and the circ*mstances where they apply to you.
Term life insurance provides financial protection to families for a specific timeframe, often ranging from 10 to 30 years. The basis of term life insurance is simple: if you die while the policy is in place, your family will receive a payout of necessary funds to help them eliminate any debts and maintain their lifestyle. Unlike other types of policies like whole, universal, and variable life insurance, term life insurance is more simple, affordable, and accessible.
Start a Quote
A disabling event can cause significant financial loss for families, making a long-term disability insurance policy a critical part of your financial plan. Dave recommends 60 to 70 percent of your monthly income in coverage. In addition, select the longest elimination period possible (90 days is average, but opt for 180 days if you have ample savings) and a benefit period of at least 5 years (to-age-65 if you can afford it). If long-term disability is available through your employer, Dave recommends tapping into that source for affordability, since it is usually more cost-effective than purchasing a separate policy.
Start a Quote
Auto insurance is a necessary investment to protect your modes of transportation – in most states, it’s required. Dave recommends choosing the highest level deductible possible based on your emergency fund. Be sure to choose at least $500,000 in property damage, liability, and bodily injury liability. When possible, it may also be ideal to purchase full comprehensive and collision insurance if you have a newer vehicle.
Start a Quote
Protecting your biggest investment is key, and homeowners insurance is a big part of that, especially if your mortgage company requires it (and virtually everyone does). Dave recommends selecting a higher deductible for your homeowner's insurance to help keep your premiums low. It is also important to consider a policy offering guaranteed or extended replacement cost policy to help you to rebuild after a significant loss.
Start a Quote
In a digital age, having ID theft protection is a big part of navigating financial security. Dave recommends that everyone have ID theft protection, especially one that provides comprehensive restoration services. That allows the professionals to cover your losses should something happen. Look for a plan that offers white-glove service, at least $1 million in stolen funds and reimbursem*nt protection, and free protection for your children.
Get Protected
Dave recommends purchasing health insurance through your employer when possible to keep costs low. Compare options to find the best coverage for your needs. Choose a plan with a Health Savings Account to help you to put money away with tax benefits to cover medical costs. Look for a policy that does not have co-pays but has a high deductible.
Learn More
FAQs
Zander Insurance | Endorsed By Dave Ramsey | Official Site.
Which life insurance company does Dave Ramsey recommend? ›
It means that Zander is the only company Dave and the entire Ramsey team recommend for term life insurance. Why? Because Zander has faithfully served our fans for two decades and will do whatever it takes to help you win. They offer the coverage you need and nothing you don't.
What healthcare does Dave Ramsey recommend? ›
The Ramsey team and Dave Ramsey himself recommend high-deductible health plans (HDHPs) whenever possible. That way, you can enjoy lower monthly premiums, and you'll qualify to open a Health Savings Account (HSA). You can use those savings to cover health expenses and even invest.
Does Zander life insurance require a medical exam? ›
You can choose a term of 10, 15, 20, 25, or 30 years. Most policies sold through Zander require a medical exam. However, there are a few that use simplified underwriting, so you won't have to get an exam to get coverage.
Is Zander worth it? ›
Zander Insurance FAQs
Zander ID Theft is a good service, with comprehensive identity monitoring, low prices, and monthly contracts. However, if you want credit monitoring, then Zander ID Theft isn't a good choice, as it doesn't provide copies of credit scores and reports.
Is Zander life insurance legit? ›
Zander Life Insurance is a reputable insurance agency with almost 100 years of experience in the insurance industry. Keep reading to learn more about Zander Life Insurance, including Zander Life Insurance quotes, products, ratings, and other life insurance terms.
What deductible does Dave Ramsey recommend? ›
Dave Ramsey recommends setting your homeowners insurance deductible to $1,000.
What are the 4 funds Dave Ramsey invests in? ›
Ramsey recommends investing in four types of mutual funds: growth and income funds, growth funds, aggressive growth funds, and international funds. What is Dave Ramsey's recommended asset allocation? Ramsey recommends a 100% stock portfolio, with no allocation to bonds or other fixed-income investments.
Is health insurance even worth it anymore? ›
If you don't have health insurance, those stories can sure get you thinking, Do I need health insurance? The answer—yes! Health insurance has a reputation for being expensive and confusing, but it can also be the only thing standing between you and financial disaster if you ever need medical care.
Does Zander Insurance charge a fee? ›
Yes, this is the same Zander that Dave Ramsey regularly recommends. Zander has created a product that only costs $6.75 a month, or $75 a year if you pay all at once. Zander focuses on offering recovery services.
Whole life insurance without a medical exam, will often have higher premiums than a term life insurance policy with no medical exam that cannot accrue cash value. The cost of no exam life insurance also depends on the amount of coverage you get.
What is the maximum amount of life insurance without medical exam? ›
Typically, guaranteed issue policies generally limit the death benefit to around $5,000 to $25,000. Because applicants aren't required to answer health questions or take a medical exam, insurers usually limit the amount of death benefit in the first two or three years of coverage.
Who owns Zander Insurance? ›
Our CEO Jeff Zander and every one of our Guides are concerned about one thing – you and your insurance needs – and are dedicated to being your advocate and resource through the buying process and beyond. Zander is 49% employee-owned.
What insurance does Suze Orman recommend? ›
Suze Orman recommends that generally most people should get a 20 year term life insurance policy at 20 times your annual income. What does that mean? That means if you're 30 years old and you make $50,000 a year you should get a million dollar 20 year term life insurance policy.
What is Dave Ramsey's company called? ›
Ramsey Solutions provides biblically based, commonsense education and empowerment that give HOPE to everyone in every walk of life. New York Times best-selling author Dave Ramsey created the company in 1992 as a means to provide financial counseling and education.
Who competes with Dave Ramsey? ›
Top 4 Ramsey Solutions competitors
- BrightPlan.
- BrightDime.
- SmartPath.
- Edukate.
