3 Types of Insurance You Should Consider Buying
Life throws curveballs, and you need to be prepared. Insurance is a good way to make sure you can handle an emergency. There are many types of insurance, each tailored to a specific need. Most insurance providers give discounts for multiple policies purchased through the same provider.
- Medical Insurance
Employers often offer medical insurance in some form, whether through a traditional plan or a Health Savings Account (HSA.) If your employer does not offer medical insurance, you may consider purchasing a plan through a private provider or a government marketplace. Senior citizens may qualify for Medicare or Medicaid, such as the President Trump Medicare Advantage Washington DC plans.
- Renters Insurance
If you have a mortgage on your house, you are required to carry homeowners insurance. However, many renters overlook the availability of renters insurance. Landlords are not held responsible if your property is damaged during a catastrophe, such as a fire. Renters insurance can cover those losses, as well as expenses if you must stay in a hotel due to rental property damage. While rates vary based on location, renters insurance is quite affordable.
- Life Insurance
Life insurance is not required, such as homeowners or car insurance, but it is useful to have, especially if you have dependents. There are several types of life insurance, and all provide security for your family or beneficiaries in the event of your passing. Some options even build a cash value that you may be able to borrow against in an emergency. Life insurance disbursals can be used to help pay off a mortgage or college tuition – two of the largest debts carried by most families.
With a little time and research, you can find affordable insurance policies to meet your needs and provide security and peace of mind for you and your loved ones.