Having insurance means having protection in our life, especially financial protection, since there are many unexpected things happen in life. Insurance has many type of policies, it would be difficult to choose what you really need. Before making a plan on your insurance, you should consider the factors around you, such as your family, age, health, lifestyle and so on. After that, you can search on the internet or asking a financial expert to get insurance recommendation. Generally, financial experts recommend these types: health, life, auto and long-term disability. 

Life Insurance

Basically, life insurance give financial protection for those who left behind due to death. If a family only have single income and dependent on one person, then having life insurance is a good option. An expert suggest that life insurance policy should cover ten times yearly income. Therefore, if something happen to you, the death benefit will cover existing expenses, funeral expenses, and financial protection. Your family can use the financial protection for any purpose, such as get income by establishing small venture. When you estimate the amount of life insurance coverage, you should remember another factor like if you still have mortgage payments, loans, credit card, taxes and also child care or future college tuition. 

Health Insurance

No one want to get sick or being hospitalized. Being sick or hospitalized, mild sickness or serious illness, both can drain your pocket. That's what make health insurance become important. Health insurance is expensive and finding affordable health insurance without employer program is difficult. However, rising co-payments, yearly deductibles and dropped coverage make health insurance become more affordable. It is better to have minimal policy than having no coverage. Even it is minimal coverage, it can provide some benefit for your hospital stay.

Long-Term Disability

You might think we need this coverage the least, as you assume no one will be disabled. Let's say someone get an accidents in her/his workplace and become disabled, her/his health insurance will cover the hospitalization and medical bills. But nothing will cover daily expenses if they can not return to work anymore. Companies usually offer short-term and long-term disability coverage as part of their benefit package. If the company you worked in don't offer it, you might need to see private insurer. Disability insurance will cover you income when you can't work both in short or long period.

Auto Insurance

If you drive without any types of auto insurance and have accident, brace your self to pay fines, car repair, and medical bills, if you are injured. In addition when the accident involved third party or property. You will pay those damages on your own. Even if you have huge savings, paying those expenses will be burdensome. Therefore, having auto insurance is important as well. 

Any types of insurance is indeed not cheap, but going on without any insurance will ruin your financial status either. Another way to seek economical coverage is checking your employer whether they offer coverage. If they don't, you can always get quotes from multiple insurance provider to get the best offer. Remember to read the copy of policy before purchase and consult with their agents about the coverage you really need.