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What is life insurance?
Life insurance is a product that protects against financial loss resulting from death.
What are some of the basic types of life insurance?
Term Life Insurance
Term life policies provide temporary protection for a specified number of years and cover protection for temporary needs such as education, mortgage, and replacement of income.
Permanent/Whole Life Insurance
Permanent insurance offers insurance coverage to protect against long-term needs such as coverage for final arrangements and estate planning.
Annuity
An annuity is a financial contract between an individual and an insurance company, wherein the individual pays a single premium or a series of premium to the insurance company in return for an assured income. Annuities are often used as an option in retirement planning.
What is health insurance?
Health insurance is a product that insures against losses due to ill health.
What are some of the basic types of health insurance?
Short-Term Health Insurance
Short-term health insurance plans are purchased to cover health losses on a temporary basis.
Group Health Insurance
Group Health coverage is health coverage that is employer-provided.
Individual Health Insurance
Health insurance that is purchased by an individual to cover health losses.
Government-Sponsored Health Insurance
Government-sponsored health plans are subsidized by the government such as Medicare and Medicaid.