Learn About Insurance Plans for Financial Protection - as part of the expert series by GeoBeats. There are a lot of different kinds of insurance out there, and there is confusion about which ones you might or might not need. There are things like health insurance, auto insurance, those are pretty straight forward, even homeowner's insurance. But there are some other kinds of insurance that people have a lot of questions about. So for example Life insurance. Do I need life insurance? Well, when I work with people, I always ask, life insurance is based on income replacement. If your income needs to be replaced for a period of time, then yes, you probably should have some sort of life insurance. You know, if you have got little kids, they need to be cared for if something happens to you. So you want to have some life insurance. Now if you are not working, and there is not anyone else relying on your income, then no, you may not need it. Other kinds of insurance that are important: Disability insurance. If you Are working and you were disabled and unable to do what you do for a living, you want to have disability insurance that covers you in that situation. So there is a long list of policies, different kinds of things that you can have: Umbrella insurance, long-term care. And their specific situation, your lifestyle, is going to dictate whether you need a certain kind of insurance or not. So you will want to research that, and you want to make sure that you are working with someone who understands your overall situation so that you get the insurance that is appropriate for you.
