BOSTON (CBS) – Insurance policies do not have legs nor do they disappear on their own. It just seems like they do.

Often it is your insurance papers that get misplaced or worse, tossed. Maybe because they don’t need our immediate attention, they’re for something that may happen in the future.

Gather up all of the insurance policies you have in your files. Sort by type of insurance first. For example, homeowners, renters, health, auto, life. Then check to see how many are outdated. You do not need your auto insurance policy from 2012 unless you had an accident and may still have a claim or are fighting the points. Or that health insurance policy from your last job.

If you have insurance through your employer get copies of the policies for your home file. If something should happen to you, your family can easily find the important insurance policies if they are all in one place. If they are stored at work they may not have access to them or your work computer.

Once everything is organized, take the time to review the policies. What do you really need? Why did you buy the insurance in the first place?

Insurance does protect us from the bad things in life that may happen to us. And bad things do happen to us, hurricanes, broken arms, death. We do need to protect the people we love but there is a need to be practical here as well.

Often we are sold insurance by a sales person using that very scare tactic.

So if you are buying insurance, take the time to shop around and compare prices. I just got a letter from an insurance company telling me that because I drive a Volvo they will give me a discount on my car and homeowners insurance.

One more thing:

Operation Money Wise Is Designed for Those with Military Backgrounds

The state’s Office of Financial Literacy announced that registration is open for an upcoming “Money Conference” geared specifically toward veterans, active military members, and their families.  The Conference will commence at 8:00 a.m. on Saturday, March 22nd in McKenzie Auditorium at Massachusetts Bay Community College in Wellesley.   

The free first-ever Conference, dubbed Operation Money Wise, will provide instruction on matters such as how to sharpen spending and saving skills, how to protect assets from predatory lending practices, and what financial tools and benefits are available to service members and veterans.  State officials said that, particularly given the complexity of the military benefit system, some veterans and service members might not take advantage of the financial benefits available to them or might expect to receive a benefit for which they don’t qualify.

The event is jointly sponsored by Massachusetts Department of Veterans’ Services, the Massachusetts National Guard, and the Financial Literacy Trust Fund.

A free continental breakfast and box lunch will be made available to people attending the Conference.  For more information and to register, interested parties can visit or call (617) 367-9333 Ext. 615.

Comments (4)