Question

What are the different types of insurance policies that you would recommend to protect personal risks? Discuss the merits for each of the types of insurance policies.

Answer 1

Different type of insurance policies I will be recommending to protect the personal risks are as follows-

A. Life insurance policy- It is the most important policy which will be protecting against the loss of the life of an individual and compensating his beneficiaries so it will provide him with coverage of risk related to uncertainty with the life and it will help him in order to to protect from any kind of loss of life so it will be compensating in the form of money to his beneficiaries

B. Health insurance policy- Health insurance policies and other important policy which will be protecting against any kind of risk associated with disease and other health problems with an individual and his family and it will be protecting against uncertainty in relation to any disease which will be requiring higher capital payments and these payments will be made by the insurance company and protect them against any kind of risk associated with disease.

C. Auto Insurance- Auto Insurance is another type of important policy which will be protecting as any kind of accident related to automobiles and it will be also protecting against any kind of damage in respect to the cars so it can be said that Auto Insurance is another important aspect of contemporary world which will be providing the insured with benefit against accident and other risk associated with his vehicle.

D. long term disability coverage is another type of insurance I will be recommending because it will be protecting against any kind of risk related to disability so that there will be loss of employment and insurance company will be protecting against any kind of risk associated with long-term disability and compensating the beneficiary.