| Type of Insurance
|| How Does It Work?
| Life insurance
|| Provides the beneficiaries of your life insurance policy with funds upon your death so that your assets will not need to be used to pay final expenses and estate taxes.
| Disability income insurance
|| Pays benefits to replace part of your earned income while you can't work due to illness or injury so that you continue to meet your financial obligations (e.g., mortgage).
| Health insurance
|| Pays medical expenses incurred as a result of an illness or injury, so that you do not need to use your assets to pay for them.
| Long-term care insurance
|| Pays for certain in-home and nursing home care expenses, preserving your assets for your heirs.
| Homeowners insurance
|| Pays for certain property damage and losses so that the property can be repaired or replaced without you having to use other assets to do so. Also covers certain liability claims.
| Automobile insurance
|| Pays for damage to your automobile so that you can fix or replace it (collision/other-than-collision coverage). Also covers certain liability claims (liability coverage).
| Umbrella liability insurance
|| Provides liability protection above and beyond basic coverage provided by homeowners and automobile policies.
| Business or professional insurance
|| Pays for certain business losses (e.g., property damage, business interruptions, liability claims).