SPECIAL SECTION:
INSURANCE
Insurance acts as a safety net for life’s unexpected
turns. Although the type of insurance you have and the
amount of money you are putting toward insurance
vary with age, income and lifestyle, among other
things, it is important to be educated on insurance
and to be covered. The level of protection provided by
insurance depends on the amount you put toward your
policy, and determining the right policy for your specific
situation is key.
The most common types of insurance include home, auto, and life.
If you only choose three types of insurance to have, these are the top
choices to cover what could be most devastating to you and/or your
loved ones. It is important to first understand some standard insurance
terms:
• Premium – cost of the coverage provided by an insurance plan
• Deductible – amount of money owed before insurance begins to
pay
• Rider – additional benefits/options added to an insurance policy
• Underwriting – review process of application