One of the biggest industries today is the insurance business. Many people don’t realize that the concept of insurance has been around for a long, long time, dating back to ancient times. While it’s not the most fascinating subject, it is certainly vital to ensure you don’t suffer financial ruin due to an unforeseen catastrophe. In this article you’ll learn about the various kinds of insurance, so you don’t get caught without protection.
Health insurance is probably something everybody is keenly aware of. Health insurance pays benefits in case you need to be hospitalized or receive medical care from a doctor. Some factors that effect the cost of your health insurance are your age, and any pre-existing conditions you may have. When purchased individually, health insurance premiums can be significantly more expensive than purchases through a group plan, such as through your work, or church. And of course, health insurance has been in the national spotlight, and is still the topic of wide debate.
Another kind of insurance that everybody is familiar with is car insurance. This is to protect you in case of accidents. Driving without car insurance is illegal, so if you don’t have it, you should get it. The price of car insurance depends on your age, your driving record, the kind of car you have, and where you live. Because car insurance today is so competitive, you can usually shop around and get a pretty good price.
One more kind of insurance is life insurance. This is to pay a benefit to your dependents after you die. This can help pay for funeral costs, as well as help to replace your income. You can choose from two different kinds of life insurance, term life and whole life. Term life is fairly simple, and pays a single benefit to those you leave behind. Whole life, on the other hand, builds up cash value that can be used by the policy holder during the life of the policy. Term life is less expensive than whole life.
You can also buy homeowners insurance, which covers a whole range of things concerning activities in your home. Homeowners insurance can protect against, fires, floods, earthquakes, and burglaries. These kinds of insurances can also protect you against financial loss in case somebody gets injured while at your house and decides to sue you.
To be sure, there is no shortage of insurances available to protect virtually every aspect of your life.The more you have to lose, the more you need insurance. While it can get expensive, it’s nothing compared to the utter financial disaster that may come if something untoward happens that you aren’t financially prepared to deal with.