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Importance
"There are almost as many reasons to purchase insurance as there is types of insurance" (Page 14).
Life Insurance "pays out a sum of money either on the death of the insured person or after a set period" (Page 14).
Health Insurance provides affordability, quality, and availability of health care. -
Importance Cont.
Auto Insurance is separated into different categories including bodily injury, property damage, comprehensive, collision, medical payments, towing & road service.
Homeowners and Renters Insurance "protect the belongings inside your place of residence" (Page 16).
Disability Insurance protects about 60% of your income up to $100000 per year. -
Insurance Plan
I would get health, life, and auto insurance. I would get these because I own a car, I am alive, and you have to own health insurance. Since I am living in a dorm next year I do not need homeowners and renters insurance, but I will in the future. I should also get disability insurance in the future since I am more likely to become disabled than dead.