INSURANCE

LIFE INSURANCE

• Provides a monetary benefit to a descents family and may specifically provide for income to an insured persons family. Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum of cash or in an annuity.

AUTO INSURANCE

• A policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident. Instead of paying out of pocket for auto accidents, people pay annual premiums to an auto insurance company; the company then pays all or most of the costs of the vehicle damage.

HOME INSURANCE

• Provides coverage for damage or destruction of the policyholders home. In some geological areas, the policy may exclude certain types or risks such as floods or earthquakes. Maintenance related issues are usually the homeowners responsibility.

HEALTH INSURANCE

• Insurance coverage that pays for medical and surgical expenses incurred by the insured. Health insurance reimburse the insured for expenses from illness or injury, or pay the care provider directly.

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• Long term disability- covers an individual's expenses for the long term, up until such time as they are considered permanently disabled and thereafter.
• Short term disability- covers an individual's short term expenses, like after a short term injury or illness.

RENTERS INSURANCE

• A form of property insurance that provides coverage for a policy holders belongings and liability within a rental property.

SOURCES

• http://www.iii.org/article/what-auto-insurance
• https://www.healthinsurance.org

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