What is Personal Insurance?

Personal insurance is taken by individual for financial protection to the dependents due to future uncertainties. The insured pays regular premium to the insurance company in exchange for a financial protection agreement. In case the policy holder incurs some losses stipulated in the policy, the insurance company pays for all the expenses as agreed in the policy. To get a better understanding of what personal insurance refer to, visit this website http://www.ehow.com/info_7817618_personal-insurance.html. There are various kinds of personal insurance covers such as:

Life insurance.

The most common kind of personal insurance. It covers the risk accompanying the demise of a loved one, usually a wage earner. As long as premiums are paid as stipulated, the policy pays a large amount of money to the dependents upon the death of the policy holder. There are two types of life insurance: term and whole. Term life insurance usually covers the insured for a given period of time, a lower premium payment is involved. Whole life insurance policy covers the insured for lifetime irrespective of deteriorating health, & it’s also a saving plan. Go online to get more info about personal life insurance.

Auto insurance.

In some states/ countries the motorists are required to carry along automobile liability insurance. This policy protects other individuals from any damages/risks you may cause while driving. In addition, other types of insurances are offered by auto insurance companies to cover for the damages that might result from your driving. Go online to read the various types of personal auto insurance.

Health insurance.

This policy helps you pay for all cost related to medication & medical care. This type of personal insurance is necessary in most individuals due to the expensive nature of any kind of medical care. Subject to your policy specification, if you become injured/you’re your health insurance company may help in paying for hospital stay, medication, surgeries, rehabilitation & psychiatric therapy. You read more about personal health insurance by visiting this website http://www.healthinsurancefinders.com/personal-health-insurance.html