Like it or not, we all need insurance.
Even if we begrudgingly pay our monthly insurance premiums, we have, on more than one occasion, been grateful that we are covered by two or more forms of insurance.
We have to admit that a lot of accidents do happen at the most inconvenient times.
And we have to be ready to face these head on, in case something worse than a small fire happens in our kitchen.
Insurance is there for a reason -- it is there to protect us, our families, and our various assets.
Let me explain to you how insurance has made our lives easier.
In order to do this, the five main kinds of insurance will need to be tackled briefly.
Auto Insurance: It is mandatory to have at least basic third party coverage.
Although the premiums for comprehensive and collision are higher, it is better to avail of a policy that will cover everything possible scenario.
You might think you don't need it, but accidents on the road do happen and it's better if you are prepared.
Having your bumper fixed after a slight collision could eat up as much as $500.
Auto insurance does not promise you won't get into an accident, but it will certainly help in times of road crisis.
Health Insurance: Aside from the health benefits most companies offer for their employees, individual policies are also available to consumers.
HMO is the most popular and least expensive of all kinds of health insurance.
The other kinds are PPO (Preferred Provider Organizations), POS (Point of Service), FFS (Fee for Service) and PDC (Prescription Drug Coverage).
A lot of older people opt for PDC, as this kind covers all of their medications.
I think a lot of people already know the importance of having health insurance, especially those who have experienced its benefits firsthand.
Dental Insurance: Dental benefits are usually included in your health insurance, but if you feel that your teeth will need more than just the usual cleaning, dental insurance is more appropriate.
Be aware that dental insurance is a separate policy, and will most likely be more than the usual $10 additional fee to your existing HMO plan.
Dental insurance is vital for your children's health.
They will most likely need this more than you.
Life Insurance: As this kind of coverage is self explanatory, let me dwell on its benefits instead.
Your family and other loved ones will be well taken cared for when you pass, either unexpectedly or from natural occurrences.
This kind of insurance is best for those who travel a lot, work in high risk environments, or have young children to support.
A few dollars a day will give your family something to live on after you have gone.
Homeowner Insurance: Wherever you live or whether you own a home, you will still need homeowner coverage.
If you live in an area with a high crime rate or natural disasters, have valuable art collections, or just want some peace of mind, homeowners' insurance will make you sleep more soundly at night.
Even if we begrudgingly pay our monthly insurance premiums, we have, on more than one occasion, been grateful that we are covered by two or more forms of insurance.
We have to admit that a lot of accidents do happen at the most inconvenient times.
And we have to be ready to face these head on, in case something worse than a small fire happens in our kitchen.
Insurance is there for a reason -- it is there to protect us, our families, and our various assets.
Let me explain to you how insurance has made our lives easier.
In order to do this, the five main kinds of insurance will need to be tackled briefly.
Auto Insurance: It is mandatory to have at least basic third party coverage.
Although the premiums for comprehensive and collision are higher, it is better to avail of a policy that will cover everything possible scenario.
You might think you don't need it, but accidents on the road do happen and it's better if you are prepared.
Having your bumper fixed after a slight collision could eat up as much as $500.
Auto insurance does not promise you won't get into an accident, but it will certainly help in times of road crisis.
Health Insurance: Aside from the health benefits most companies offer for their employees, individual policies are also available to consumers.
HMO is the most popular and least expensive of all kinds of health insurance.
The other kinds are PPO (Preferred Provider Organizations), POS (Point of Service), FFS (Fee for Service) and PDC (Prescription Drug Coverage).
A lot of older people opt for PDC, as this kind covers all of their medications.
I think a lot of people already know the importance of having health insurance, especially those who have experienced its benefits firsthand.
Dental Insurance: Dental benefits are usually included in your health insurance, but if you feel that your teeth will need more than just the usual cleaning, dental insurance is more appropriate.
Be aware that dental insurance is a separate policy, and will most likely be more than the usual $10 additional fee to your existing HMO plan.
Dental insurance is vital for your children's health.
They will most likely need this more than you.
Life Insurance: As this kind of coverage is self explanatory, let me dwell on its benefits instead.
Your family and other loved ones will be well taken cared for when you pass, either unexpectedly or from natural occurrences.
This kind of insurance is best for those who travel a lot, work in high risk environments, or have young children to support.
A few dollars a day will give your family something to live on after you have gone.
Homeowner Insurance: Wherever you live or whether you own a home, you will still need homeowner coverage.
If you live in an area with a high crime rate or natural disasters, have valuable art collections, or just want some peace of mind, homeowners' insurance will make you sleep more soundly at night.