What Differentiates Health Insurance From Other Types Of Insurance?
5527 POINTSview profileMarlin McKelvyPresident, Consumer Directed Benefit Solutions, Memphis, TennesseeHealth insurance is associated with managing the financial risk presented by the possibility that a person and/or their dependents will become ill or suffer an accident requiring medical services. In contrast, your auto or homeowners insurance protects against the risk of damage or destruction of your personal property and against potential legal liability for accidents or injuries associated with your property. Disability insurance protects your income stream against the possibility that a disabling event reduces or eliminates your ability to earn an income. Life Insurance provides financial resources to the insured person's beneficiaries to cover funeral expenses, pay off debts and perhaps to leave a inheritance to their beneficiaries. Essentially, we are faced with a variety of risks in our lives and there are specific types of insurance coverage designed to help people manage these risks.Answered on September 18, 2014flag this answer
1976 POINTSview profileRonald HinchRegional Marketing Director, Capital Choice Financial Group,Health insurance deals primarily with any health related issue or injury while other types of insurance insure items, your life, or your income. They all protect your assets and ability to make an income. All insurances give you and your family peace of mind that if something happens they won't be devastated financially!Answered on April 25, 2016flag this answer
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