Insurance

=INSURANCE =


 * Insurance:** legal contract between you and insurance company. It covers a risk. You pay the premium. You receive a payment after the risk actually happens minus whatever deductible you have signed up for.

There are two types: term and something else. Term is when you buy it and then it's only good for the premium. If it's for six months you pay it for six months. Another one is for investing. If someone were to die, then someone else like your s[ouse will have the money so they can live on that later and helps pay for funeral expenses. Gets more expensive as you get older. It should be about 5x your annual income. usually, it ranges from 250,000 to 500,00. In case you die, your family is covered. Most insurance companies will have clause in contract and if you commit suicide within first two years they won't pay out. Otherwise some might kill themselves in order for family to get money...or suicide could be staged? It is insurance you pay and then when you die you can choose the person that the money goes to...or you might actually choose before you die.
 * Life Insurance - **

Blue Cross/Blue Shield is an option. You can get it through work. Covers doctor visits, teeth, MRI, pretty much everything - even emergency rooms. It has a certain amount of set payment for visits. If you get a government job, government insurance is good. Doctors actually don't like government workers because thye lose money. Normally get it from employers - but you can get short term insurance if you're changing jobs. 60% of bankruptcy is from medical bills. You are covered under parents' health insurance until age of 26. Once you're married you get your own plan.... If you want to pay it yourself, you need to report all medical problems because otherwise they can cancel it on you if something happens that you hadn't warned them about. (Ex. heart attack when you have high blood pressure) It protects you from risk of uncertain bills, pays for your service that you often use, you get better quality care from doctor, don't have to worry about cost of care when you're sick, no paying income tax on insurance. Companies pay less to doctors than you will on your own.
 * Health Insurance -**

Shop around and figure out what you can find for the best deal. Bundle your insurance because it's cheaper. The mortgage company normally requires it. Pay it monthly. It's more expensive if you do it annually. You have a deductible of how much you spend. Flood insurance is a different thing off of home insurance. People in Sioux City didn't get flood insurance. Insurance policy that combines several different aspects: loss or destruction of possessions, liability, etc. And, also protection in case people are injured on your property. You could be held liable if burglar hurts himself while breaking in. If you're renting, get retner's insurance to cover all your belongings. Get insurance on all belongings on it in case of disasters. Get insurance in case people get injured on your property. And, we learned Cha Cha doesn't really work for home insurance.
 * Home Insurance:**

The primary use is to provide financial protection against physical damage resulting from traffic collision from liability that could also rise. There is property coverage - damage to or theft of car. Liability coverage - legal responsibility to others for damage. Find an agent, get a quote, know how much voerage you want (liability and full coverage). Liability covers accidents that isn't your fault, and sometimes if it is your fault. Full Coverage covers you no matter what. What you drive and your driving record can go against you. (Ex. red color car cross you more, age, gender.) But, it is discrimination to raise insurance based on stereotypes. Don't get on high-risk insurance. Bundle with other insurances for more discounts. Most states require at least collision so that it protects the the people that you hit. You have to have it. Good grades help, guys have higher rates, etc. Go to a local guy - not to internet. Coverage bills add up fast if you don't have it. If you hit a bridge it's expensive. There is collector-car insurance for owning a classic car. Every state has different minimum requirement. Liability covers damages you caused on others or others' property. Collision - covers repairs. If you get hit by someone, and there not insured, underinsured covers it. Medical - pays for injury of others in your vehicle. There's lots of different levels. Make sure your level of protection matches value of your car. Get full coverage if you're going to be pulling stuff behidn your vehicle.
 * Auto Insurance:**