Types of Insurance for the Individual

• Life Insurance


  Life insurance provides for your family or some other named beneficiaries on your death. Two general types are available: term insurance provides coverage only during the term of the policy and pays off only on the insured’s death; whole-life insurance provides savings as well as insurance and can let the insured collect before death.
• Health Insurance


  Health insurance covers the cost of hospitalization, visits to the doctor’s office, and prescription medicines. Usually, the policy will contain a deductible amount; the insurer will not make payments until after the deductible amount has been reached.
• Disability Insurance


  A disability policy pays a certain percentage of an employee’s wages (or a fixed sum) weekly or monthly if the employee becomes unable to work through illness or an accident.
• Homeowner’s Insurance


  A homeowner’s policy provides insurance for damages or losses due to fire, theft, and other named perils. No policy routinely covers all perils. The homeowner must assess his needs by looking to the likely risks in his area—earthquake, flooding, and so on.
• Automobile Insurance


  Automobile insurance is perhaps the most commonly held type of insurance. The typical automobile policy covers liability for bodily injury and property damage, medical payments, damage to or loss of the car itself, and attorneys’ fees in case of a lawsuit.
• Other Liability Insurance


  In this litigious society, a person can be sued for just about anything: a slip on the walk, a harsh and untrue word spoken in anger, an accident on the ball field. A personal liability policy covers many types of these risks and can give coverage in excess of that provided by homeowner’s and automobile insurance