Auto
You're walking down the sidewalk and someone hits you with their car, then speeds away. Be thankful you have this type of insurance!
Uninsured/Underinsured Motorist Protection
Hit & Run protection as well as being hit by someone without insurance
This insurance will cover anything that falls outside of your regular insurance policies
Umbrella Insurance
Hopefully you aren't still living with your parents at this age, but the Affordable Care Act ensures your health insurance is still covered under your parent's plan
26 Years Old
This insurance is for a specified amount of time, often 20-30 years
Term Life Insurance
Coming in both short and long term policies, this will protect you from loss of income due to an injury or health condition
Disability Insurance
You swerve to avoid a squirrel in the road and smash into a tree. Thank goodness you have this insurance for the car damage!
Collision Insurance
Protection of car damage from a collision with a car or object
This covers the four walls, roof, and floors of your home
Dwelling Coverage
Covers the structure of your home
Insurance companies can put this cap on your health insurance policy if you have a ridiculous amount of medical bills
Lifetime Limit
There is no time limit to this insurance
Whole Life Insurance or Cash Value Insurance
This is the amount of money you will pay out of pocket before the insurance company will make a payment
Deductible
Good thing you and your passenger's medical bills are covered with this type of insurance
Personal Injury Protection (PIP)
Pays for medical expenses, loss of wages, and other financial losses
Your home is a total loss in a forest fire. Without this, you won't be able to replace the things you've lost
Personal Property Coverage
Personal belongings are covered if damaged, destroyed, or stolen
This plan has a high minimum deductible, which lowers your premium payments
High-Deductible Health Plan (HDHP)
You're 50 years old. You've planned, budgeted, and saved religiously all your life and have enough money for your family to live off of should you die tomorrow
Self-Insured
Nursing homes, assisted living, in-home care, and other end-of-life care are all covered under this insurance
Long-Term Care Insurance
It is illegal for you to not have at least this type of car insurance, which protects you from claims of personal injury or property damage
Liability Insurance
Protects against claims of personal injury or property damage after a collision
Your friend trips on your rug and hits his head on your coffee table, causing 12 stitches and a concussion. Good thing you have this when he sues you!
Liability Coverage
Protects from legal liability of property damage or bodily injury
When you have an HDHP plan in place, you can take advantage of this tax-free savings account
Health Savings Account (HSA)
Dependent
The amount of money paid for an insurance policy is called this
Premium
You accidently drive your car right in the middle of a protest. They are angry and throw a brick at your car! If you have this insurance, you're covered
Comprehensive Insurance
Protection of loss or damage from something other than a collision
After a flood destroyed your home, this will cover the cost of a hotel while you get back on your feet
Loss of Use Coverage
Covers additional living expenses like a hotel
If your employer pays for a portion of your insurance premiums, it is called this
Subsidizing
These are basically life expectancy charts for insurers to figure out the rate for your premiums
Actuarial Life Tables
Your child is 12 and you just found out they need glasses and braces. Good thing you have this!
Supplemental Insurance