Insurance is one of the few things you buy with the hope that you’ll never need to use it. If an emergency or accident occurs, however, insurance can help offset the costs associated with recovery. By understanding the basic types of insurance, you can better protect your home, your family, and your health.
Auto, homeowners, and renters insurance are the three main types of property and casualty insurance:
Whether you’re going in for a routine check-up or having major surgery, a good health insurance plan can help reduce what you pay for medical care. When purchasing health insurance for yourself or your family, you may choose either a managed care plan or an indemnity plan.
Life insurance can help to replace lost income in the event of a death and can be important if you’re responsible for the financial well being of a child, spouse, or other loved ones. While there are several options, two common life insurance products are:
Once you have a basic understanding of the types of insurance available, you can sit with a certified financial planner and choose the best possible option.
Amit is an Independent Financial Advisor, based in Dubai since 1997. He is part of the prestigious ‘Million Dollar Round Table’ (MDRT), which is an elite club of the best financial advisors worldwide.
He has authored the ‘6-Step Financial Success Guide’, and the book ‘Creating, Preserving, Distributing Wealth’.
He helps business owners and professionals ‘Create A Second Income’ through investments.
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