From the course: Financial Adulting

Types of insurance policies

From the course: Financial Adulting

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Types of insurance policies

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- So let's talk about the types of insurance and the risks they protect against. There's a whole host of insurance policies and a lot of nuance to it, but at root, you're going to run into these basic types of insurance. Life insurance, which provides income replacement in the case of premature death. Health insurance, which protects against catastrophic injury or sickness. Disability insurance, which protects against lost income from the inability to work due to sickness or accident. Property insurance, which is designed to protect against the destruction of a home, personal property or vehicle. And then finally, there's liability insurance to protect against your personal assets and future earnings if you're sued. If you're a professional, liability insurance is called "malpractice insurance". Car insurance has a liability component to it as well. We're not going to deep dive into all these types of insurance, but I do want you to ask yourself every time you're thinking about buying insurance, "Do I need to protect myself against that risk? And if I do, what's the best way to go about it?"

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