With all of the different types of insurance on the market, it can be difficult to determine what type of insurance your family or your business needs. Continue reading for more information on three types of insurance coverage you should definitely have.
Without a waiver, health insurance is a requirement in the United States. There are many types of health insurance available on the market but figuring out what you need can be a challenge. Types of insurance and coverage options include:
- Group Coverage Plans
- Flexible Spending Accounts
- Health Savings Accounts
- Health Reimbursement Accounts
There are many other types of coverage included under the health insurance umbrella, so it may be wise to hire a professional to help you decode all of the healthcare jargon. A professional can help you get the most coverage for your dollar and they have better access to resources than if you tried to find all of these products on your own.
Because 52% of homeowners aren’t clear about their insurance coverage, talking to a professional is important. For example, flood insurance is not covered under your standard homeowner’s insurance policy. You need to get a special flood insurance policy that is offered through agencies and backed by the National Flood Insurance Program (NFIP).
The NFIP is managed by FEMA and its goal is “to provide flood insurance, to improve floodplain management and to develop maps of flood hazard zones.” A licensed insurance agent can help you determine what flood coverage your home or business needs in addition to your home insurance.
Life insurance is a large umbrella, not unlike health insurance. It includes coverage for things beyond just standard life insurance. The most common forms of life insurance include term life insurance, universal life insurance, and whole life insurance. In addition to those types of insurance, life insurance includes things like:
- Long Term Care
- Medicare Products
- Individual Medical Products
With all of those offerings under one category, it can seem like a daunting task to look for life insurance and life insurance products. This is something only a licensed insurance agent can really help you with as it’s such a complex task.
Whether you’re researching life insurance products, health insurance products, or flood insurance products, contact Key Agency today to help you sort through all of the complexities in the insurance industry.