1. 5527 POINTS
    Marlin McKelvy
    President, Consumer Directed Benefit Solutions, Memphis, Tennessee
    Well, it is different in that it is designed to deal with your health care issues and the financial risks posed by illnesses and injury.  This is quite different than other types of risk in life that a person needs to address.  Your house might get struck by lightning and catch fire.  Obviously this is not a health issue like cancer.  So, you need to have homeowners insurance to protect your property and its contents.  Similarly, you might be involved in a car accident and, while physically unharmed, you are faced with the repair or replacement costs of your vehicle and the liability for harm you may have caused if you were at fault in the auto accident.  You would have auto insurance for this risk as health insurance just won't pay to have your fender replaced.

    There are a variety of financial risks that life presents us with and there are a variety of insurance products that address these specific needs.
    Answered on June 27, 2014
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