4 Basic Insurance Plans Simplified
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Written by Stacey Hart   
Saturday, 05 September 2009
4 Basic Insurance Plans, Simplified


Life, property, health, and disability are four of the most basic insurance types. If you are thinking of getting insurance for yourself, these 4 types of insurance plans are the first ones you should be looking at. It is a good idea to narrow down your choices once you are perusing risk management else the variety of options will just leave you confused.

Examples of other kinds of insurance that most people do not usually need to protect against are the expatriate insurance, which is tailor-made for individuals out of their home country, the kidnap and ransom insurance (K&R) which is for people in high risk areas, the nuclear incident insurance, the pet insurance, the pollution insurance, and the travel insurance, which you get only if you are going to be traveling.

To explain the 4 types; life insurance is a way to protect surviving relatives against the risk of financial difficulties in the event of your death. Property insurance gives you a measure of protection against risks to property such as damage, theft, and loss. Under this type of insurance are the more detailed or specialized types which deal with what kind of peril you anticipate such as fire insurance, flood insurance, or earthquake insurance. Health insurance provides a hedge against medical costs such as hospital bills, doctor’s fees, and the like. Disability insurance protects you against the loss of earnings or wages in the event that you become unable to work due to disability.

All these types of insurance plans have their own policies and coverage. An insurance agent will be able to help you go through them. Independent research will also help.
Last Updated ( Saturday, 05 September 2009 )