Types of Insurance and what they cover
Whatever your insurance needs, focus on your desired financial outcomes "no matter what happens," not on the specific routes to those outcomes. Insurance companies and their salespeople are very effective at tugging on your heartstrings, but does it actually matter whether you cannot work (and cannot generate an income to support yourself and your dependents) because a bus ran you over or because you suffer from dementia? No, it doesn't, yet insurance policies vary in whether they will cover "all risks" or not. (By the way, dementia is a much more statistically common risk than accidents.) Read the policy documents very carefully to understand what is included and what is not. Then buy only the insurance you need in your personal circumstances. Term life insurance Payout in the event of death (or "total and permanent disability," narrowly defined) within a specified period, for example before age 65. Life insurance is intended to support the lifesty