Different types of insurance
There are a number of different types of insurance. Some types of insurance are required by law to be taken out while others are optional. In both cases, insurance can be a benefit to anyone who has. They offer a variety of protection and save costs that far outweigh the cost of getting insurance. The following is a list of some of the descriptions of some types of insurance and their benefits to the policyholders.
Auto insurance is one type of insurance required by law but has a number of advantages. Car insurance can keep a person from having to pay for the damage caused by an accident. With some auto insurance plans, it can also cover repairs to damage to the holder car. The addition of an uninsured car driver can be added to protect the document holder in the event of an accident with an uninsured driver.
Health insurance helps to ease the financial burden of medical care. Depending on the type of health insurance policy, policyholders bear a certain percentage of the total cost of medical care. Some health insurance policies also include a prescription drug plan that helps policyholders pay for prescription drugs. Health insurance policies can be purchased individually or as a group, as is the case with an employer who provides health insurance.
Dental insurance can help document holders to pay for dental care. As with health insurance, dental insurance helps ease the financial burden of dental care. They usually cover document holders for preventive care as well as basic care and some major dental care. Different policies cover policyholders for different percentages of dental care. Dental insurance can be purchased individually or as part of a group.
Life insurance is a type of insurance that pays interest to survivors of names in the event of a death of the policyholder. This gives survivors the opportunity to pay debt and funeral expenses incurred by the holder of the document. Any additional benefits are distributed to beneficiaries for use as they deem appropriate. Some life insurance policies allow policyholders to borrow against politics while they are still alive in the event of a severe financial situation.