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You must have listened, the word insurance. In order to secure your property, future, and life you buy an insurance policy which covers your expenses and burden after you. There are many types of insurance policies. For every purpose, there is a different insurance policy. Only one policy cannot cover each and everything.In this article, I will unveil 8 types of insurances which are necessary for you to buy and understand.

1.       Life Insurance.

Let’s start with the most important coverage policy which is life insurance.You are always unpredictable with your life and your future. Everyone wants to secure his family’s financial future, which is a very important thing. You cannot deny the importance of the financial need for you and your family. You are always here to protect your family and to fulfill their financial needs. But just in case, if you are no more around them, what will happen to them. After you, there is a life insurance policy which will take care of your family’s financial needs. So, buying life insurance is very important to secure their financial future. They can spend a debt free life after you because insurance amount will take care of their monthly expenses, utility bills, child care, and your funeral expenses.

2.       Disability Insurance.

You should also consider the disability insurance especially if you are an entrepreneur, a driver, mechanic, rider, mason etc. if you are not doing such job, even then you cannot overlook the importance of disability insurance. You are a normal human being and you can meet any accident at any time. If you get disabled in an accident then who will take care of your family and medication. So, for that purpose disability insurance is important. It covers your medical expenses and your monthly home expenses. After disability, definitely, you will not be able to earn bread for your dependents. At your this crucial time, your disability insurance will give you shoulder. Disability insurance will cover your treatment expenses and your home’s expenses until you get healthy. If you get disable for your rest of life then it will cover your half expenses for the rest of your life.

3.       Health Insurance.

Many people are confused about health insurance. They mix health insurance and disability insurance. Well, it is a different thing. It is also very important to purchase health insurance for you or for your family members. Many organizations are offering their employees free health insurance. If you are working in such an organization then you are lucky. But when you leave that job, your insurance will be called off. So, it is important to buy your own health insurance. You have to pay thesemi-annual or annual premium and you will get lump sum amount if you will diagnose with any serious disease like sugar, stroke, heart attack etc. health insurance will cover your hospital and operation expense. It will also cover your monthly medicine cost.

4.       Auto Insurance.

Auto insurance covers the cost of the accident. Whether it is your fault or not, but if you have auto insurance, the damage of your vehicle will be covered by the insurance company. You can claim the damaged cost of your vehicle. Every insurance company has some different policies according tostate law. So, before buying you should know all about the accident law and coverage amount. In some insurance companies, you can claim only half of the damaged cost.

5.       Long-term Care Insurance.

If you are an older person then buying long-term care insurance will be expensive.This insurance will cover your financial burden which is definitely not easy to afford. The coverage amount of long-term insurance will be $225 per day or $6,000 per month.

6.       Homeowner Insurance.

If you are in real estate business or you a homeowner, then homeowner insurance is very important for you. It will cover repair cost, maintenance cost, and covers thedamage cost. If you unintentionally damage another person’s property, then it will also cover that person’s property damage cost.

7.       Renters Insurance.

Renters insurance provides almost the same benefits as homeowners insurance. The only difference is it also covers the loss of the renter’s possession.

8.       Theft Protection.

Technically, it is not insurance but as it covers your loss then we can say it insurance. It provides the coverage of your information. If any thief steals your personal identity information, credit card information, it will help you to recover it.