Insurance Types
Before taking an insurance policy, you will need to evaluate your insurance needs. Basically, main purpose of all insurance is to protect you and your family against financial impact. Life insurance is the pure insurance which pays only on the death of the insured person. A cash value insurance which also includes a savings vehicle. Most of the life insurance should be on a family member whose salary is important for the whole family. A small life insurance policy is better for child care and other expenses. Main categories of life insurance are Term life insurance, Whole life insurance , Long Term life insurance , Disability insurance or Universal insurance. Auto insurance is must for any type automobile and car owners. Auto insurance companies provide insurance with low insurance rates and premiums along with good coverage. Now a day, auto insurance companies offer different types of discounts to customers. In low risk occupations, discounts are offered to those whose profession is low risk. Auto insurance offers discounts who want to renew their auto insurance from same company. The automobile for which auto insurance policy is taken is guarded with various safety measures like automatic seat belts, brakes, airbags etc
Dental insurance will covers all dental expenses and it can be for an individual, a group or for family. There are basically two types of dental insurance plans and these are Prefer Provider Organization, Dental Health Maintenance organization. Dental insurance covers all expenses of dental cleaning for removing plaque and tarter by a professional. Dental X-Ray, Dental surgery, filling of cavities all coverage are provides by the dental insurance. Home insurance offers insurance of property and contents. Home insurance policy generally remains active for a specific period of time during which the policy holder has to pay premiums to the insurance company. The amount to be paid would be depending upon the vulnerability of home. Home insurance coverage includes home along with its all contents and it may also give insurance against explosions, storms, burglary, fire or breakage of glasses.
Worker's compensation insurance covers all part of worker's wages lost and medical expenses incurred during job related injury. Health insurance would cover all medical expenses during disability and long term fatal disease.
One should always keep in mind that real dangers may happen any time during traveling anywhere in the world. Another type of insurance is Travel insurance which provides coverage against any travel losses inside or outside the country. Some of the common risks that should be covered in travel insurance are any delayed departure, loss, theft of personal possessions during traveling, medical expenses, emergency returned from journey, accidental death or rented car damage etc. In Permanent Life Insurance, a portion of money paid as premiums is invested in a fund that earns interests. This policy will accumulate cash value in a certain period of time which you will be able to get back at the end of the policy. This type of policy is very helpful because it not only provides protection for your dependents by paying a death benefit upon your death but it also give some part of money while you are alive. Homeowners insurance includes Renters insurance and Flood insurance. For a rented house Landlord's insurance covers only the buildings not your belongings. So Renters insurance covers someone personal possessions if he rent a house or apartment. A Flood insurance policy provides protection for both for your home and your content.
Fixed coverage plan and comprehensive plan are the types of the Visitors insurance. In Fixed coverage plan or scheduled benefit plan, you have to first pay the deductible and then insurance companies pay a set maximum amount for every procedure. Infect, prices for such insurance plan are attractive. If there is no PPO network in a fixed coverage plan, you can visit any doctor and get health insurance card that has all information. In the Comprehensive coverage plan, one must have paid the deductible and insurance company pays 80% for the first medical expenses and remaining 20% paid by policy holder.
Types of Insurance
