Insurance

TYPES OF INSURANCE POLICY I SHOULD CONSIDER:

Home Insurance: Homeowners Insurance Guide: Everything You Need to Know | Credible
- Hurricane Policy: How To Get Hurricane Insurance – Forbes Advisor
Auto Insurance: Car Insurance Explained: Everything You Need To Know (caranddriver.com)
Life Insurance? Do I Need Life Insurance? – NerdWallet
5 Different Types of Life Insurance – NerdWallet
Long-Term Disability Insurance? Do I Need Long-Term Disability Insurance? – SmartAsset | SmartAsset
Short Term Disability? What Is Disability Insurance and Do You Need It? – Ramsey (ramseysolutions.com)
Car Insurance? Car Insurance Explained: Everything You Need To Know (caranddriver.com)
Flood Insurance? How to Decide if You Need Flood Insurance (realsimple.com)
Umbrella Policy? Do I Need Umbrella Insurance? | Travelers Insurance
Health Insurance: How to Choose Health Insurance: Your Step-by-Step Guide – NerdWallet
Renter’s Insurance: What is Renters Insurance and Why is it So Important? – LegalShield
Insurance Carrier Rating Check. Insurance Company Ratings (insure.com)

Understand Why You Need Insurance.
Shop for the Best Policy
Check the Financial Stability of the Insurance Company - Make Sure They Can Pay Out When You File a Claim.
Review and Update Your Policies Regularly.
Always Give Accurate Information to the Insurance Carrier.

Rank	Group/Company
1	MetLife Inc.
2	Equitable Holdings
3	Athene Holding Ltd.
4	Massachusetts Mutual Life Insurance Co.
5	New York Life Insurance Group
6	Prudential Financial Inc.
7	Nationwide
8	Western & Southern Financial
9	Corbridge Financial
10	Great West

Percentage of Renters with Renter's Insurance

Number of People that Have Health Insurance

Americans report owning at least one life insurance policy

Insurance is used as a planning tool for several reasons, serving as a financial risk management strategy that provides protection and security. Here are some key reasons why insurance is utilized as a planning tool:

Risk Mitigation: Insurance helps individuals and businesses mitigate financial risks associated with unexpected events, such as accidents, illnesses, natural disasters, or death. By paying a relatively small premium, policyholders can transfer the financial risk to the insurance company.
Financial Protection: Insurance provides a safety net by offering financial protection against potential losses. For example, life insurance provides a death benefit to beneficiaries, ensuring they receive a payout in the event of the policyholder’s death.
Wealth Preservation: Insurance can be a tool for preserving wealth and ensuring that assets are not depleted due to unforeseen circumstances. For instance, long-term care insurance can help cover the costs of healthcare and nursing home expenses, protecting one’s savings.
Estate Planning: Life insurance is commonly used as part of estate planning to provide liquidity for estate taxes, debts, and other financial obligations. It allows individuals to leave a financial legacy for their heirs.
Business Continuity: Business owners often use insurance to safeguard their enterprises. For example, key person insurance can provide funds to help a business continue operations in the event of the death or disability of a crucial employee.
Liability Protection: Liability insurance helps protect individuals and businesses from financial losses due to legal claims or lawsuits. This is essential for protecting assets and avoiding financial ruin in the face of legal challenges.
Mortgage and Debt Protection: Mortgage insurance and credit life insurance are used to protect against the financial burden of outstanding debts in the event of the policyholder’s death.