Insurance can be broadly categorized, with common types including:
Life Insurance: Provides a financial benefit to beneficiaries upon the death of the insured. (e.g., Term Life, Whole Life).
Health Insurance: Covers medical, surgical, prescription drug, and sometimes dental expenses incurred by the insured.
Property & Casualty (P&C) Insurance: Protects assets and provides liability coverage (e.g., Auto, Homeowners, Renters, Commercial General Liability).
Disability Insurance: Replaces a portion of lost income if the insured becomes unable to work due to illness or injury.
