Insurance Coverage and Your Insurance Options

Insurance is a system to protect persons against the risks of financial loss by transferring the risks to a large group who share the financial losses. The Insurer is the company offering protection through the sale of an insurance policy to an insured. The Insured is the person whose risk is transferred and shared.

Health insurance is designed to protect the insured against the costs of hospital and medical care or lost income arising from an illness or injury. It is sometimes called Accident or Sickness Insurance, Accident and Health Insurance, or Disability Insurance.

Whole life insurance is a life insurance policy which will be paid to a beneficiary at the time of death of the insured whenever that occurs.

Ordinary life insurance is life insurance which is usually issued in amounts of $l,000 or more to an individual policyholder.

Long Term Care Insurance covers the cost of long-term custodial care in a nursing facility or at home. Caveat: Please read your policy carefully as not all long term care insurance covers the same needs, for example some only cover assisted living facilities and not all nursing home facilities and needs.

Paid-up insurance is a life insurance policy under which all premiums have already been paid with no further premiums due.

Workers compensation insurance is insurance which pays for medical care and physical rehabilitation of injured workers and replaces their lost wages while they're unable to work.

If you are interested in insurance coverage for any reason, please use our free Insurance guide that explains insurance coverage, options, and companies.

Mortgage insurance is life insurance which pays the balance of a mortgage if the insured dies.