Types Of Insurance Policies Everyone Needs

1. Life Insurance 2. Health Insurance 3. Long-Term Disability Coverage 4. Auto Insurance

1. Life Insurance

The greatest benefits of life insurance include the ability to cover your funeral expenses and provide for those you leave behind. This is especially important if you have a family that is dependent on your salary to pay the bills. Industry experts suggest a life insurance policy that covers 10 times your yearly income.But that's a number not everyone can afford.

2. Health Insurance

Statistically, you and your family are just one serious illness away from bankruptcy, according to a study published by the American Journal of Public Health in 2019. In the Journal's survey of more than 900 Americans who filed for personal bankruptcy between 2013 and 2016, medical problems.

3. Long-Term Disability Coverage

Long-term disability insurance is the one type of insurance most of us think we will never need. Yet, according to statistics from the Social Security Administration, one in four workers entering the workforce will become disabled and will be unable to work before they reach the age of retirement.

4. Auto Insurance

There were 5.25 million police reported car accidents in the US in 2020, according to the National Highway Traffic Safety Administration. An estimated 38,824 people died in car crashes in 2020 alone. According to the CDC, automobile accidents are one of the leading causes of death around in the US and around the world. In the US, nearly 2.3 million drivers and passengers were injured in 2020.