Some people scoff at credit insurance and extended warranties. I would not take out insurance for every debt I have, but mortgage life insurance would be valuable. Especially in this climate when people are losing their homes hand over fist. What if you were to die, and your spouse or beneficiaries couldn't pay the mortgage and consequently lost the home?
I have an extended warranty on my car, and I am so glad. It has paid for itself time and again in just three short years. I wouldn't be without it, for sure. I understand the views of those against it--that rather than paying for the warranty or such, just save up money to pay in cash when a problem arises. But how many people can save up thousands of dollars to pay for repairs?
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