4 Types Of Personal Insurance To Consider From An Insurance Agency

Insurance Blog

Insurance products are created to protect the financial well-being of everyday individuals. Take a look at just a few of the forms of insurance that may be available through an insurance agency service. 

Long-Term Care Insurance 

The cost of long-term care can quickly bankrupt the average senior and create a major burden for relatives. The typical cost of annual nursing home care is between $89,297 and $100,375. Insurance doesn't always cover the costs of long-term care either. And, if a state or government-funded program picks up the tab with their insurance, you may have to sell some assets. Long-term care insurance is a wise investment for pretty much anyone. This coverage helps to pay for the costs of long-term care so you are not left selling your assets or struggling to pay for the care you need. 

Personal Umbrella or Liability Insurance 

Personal umbrella insurance, which may also be referred to as additional liability insurance, is meant to protect individuals from the costs that far exceed their usual policy limits. For example, if a visitor gets injured at your home and your homeowner's insurance policy only pays up to $25,000, personal umbrella insurance would kick in and cover costs beyond that $25,000 up to a certain point. Likewise, if you were involved in a major car accident caused by you, personal umbrella insurance would cover additional costs not covered by your basic auto policy so you can avoid being sued. 

Short-Term Disability Insurance 

Many people are just a few paychecks away from being completely caught up in a desperate financial situation. If something happens to you and you are no longer able to work, having some form of income can make all the difference in whether you lose your home or fall behind on your bills. Short-term disability insurance provides just that. While short-term disability insurance is offered through some employers, many contractors, freelancers, and business owners do not have the same coverage options. These individuals can get their own policy by working with an insurance agency service. 

Catastrophic Health Insurance 

Catastrophic health insurance is an alternative form of health insurance from an insurance agency service that is specifically designed for catastrophic health events. While this form of insurance can cover some of the substantial costs that would come along with a major illness or injury, the insurance does come along with deductible requirements and plan limitations. 

Contact an insurance agency service for more information. 

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