|Type of Insurance |Functions |Coverage Characteristics |Companies That Offer It | |Auto |Protect the owner of the vehicle against damage, |*State farm offers bodily injury insurancewhich covers |State Farm | | |whether it was their fault or someone elses in an |medical expenses and more. And property damage |AllState | | |accident. |liability which covers the damage of property. |Geico | | | |*All-State offer liability coverage 101 which covers 3 | | | | |different types. Bodliy injury liability coverage, | | | | |property damage liability coverage and property | | | | |protection coverage.
*Geico offers bodily ijury liability, medical payments,| | | | |uninsured motorists coverage, collision coverage, | | | | |property damage, and rental reimbursement. | | |Home |The function of home insurance is to protect the policy|*Liberty Mutual covers living expenses and liability if|Liberty Mutual | | |holder from sudden and accidental events that may cause|you or someone in your household damages someone elses |Amica | | |property damage and bodily injuries. |property.
|Progressive | | | |*Amica Protects your home, your belongings in the home | | | | |and also protects yourself | | | | |*Progressive insurance protects your home, your | | | | |belongings inside the home and also have liability on | | | | |yourself in case you damage someone else property. | | |Health |Health insurance covers you from medical expenses so |*Blue cross blue shield offers coverage for indivduals,|Blue Cross Blue Shield | | |that you don’t have to pay out of pocket. Also you can |families, and groups.
They provide long term care, |Aetna Health Insurance | | |get some of your medical expenses discounted, or |maternity care, dental care, and prescription drugs. |Aflac | | |medicine discounted as well. |* | | | | | | | |Disability |Disability insurance covers you because you are disable|Short-term:Part of employee package. Covers a |American General | | |to work and make your own money. |percentage of the employee’s salary when the employee |Assurity | | | |is out of work for a short period of time. |Boston Mutual | | | |Long-term:When an injury or illness renders people | | | | |unable to work for a long period of time.
May | | | | |supplement your income after the short term policy runs| | | | |out. | | |Life |Life insurance covers you after death. Someone have to |Term Life:Provides coverage with flexibility and ends |State Farm | | |pay for your funeral coverages. |at a predetermined age. Can be purchased to cover two |TIAA-CREF | | | |people. Appels to people who are focused on the amount |AARP | | | |of the premium as term life insurance. | | | | | | | | | |Whole Life: Pays a predetermined amount upon death in | | | | |return for a standard monthly or annual payment.
| | | | |Coverage extends from the day purchased until death. | | Directions – Paper Then in a 350-to 700-word paper, explain what the differences are between insurance and social assistance programs, providing at least two examples of each. Then compare and contrast either auto and health insurance OR disability and life insurance, making sure to reference (where applicable) deductibles, premiums, coverage, and co-payments. Insurance is an important factor in citizens lives today. Insurance is should always get looked at in a good way. Some insurance may be too expensive, but is well needed.
The difference between insurance and social assistance programs would be, insurance is what one is paying to stay covered and social assistance programs is something that the government helps an individual out on. Insurance would be home insurance, care insurance and health insurance. While social assistance programs are welfare, such as food stamps. Another difference between insurance and social assistance programs are insurance is something that people buy and pay for from their own chosen company, while social assistance programs are ran by the government.
Insurance pays when something happens, or emergencies. Some emergencies would be: fire, theft, death and auto incidents that their insurance is covered by. Social assistance programs are ran by the government. Some programs are food stamps. People receive food stamps because they are having trouble buying their grocery with cash. Also while on social assistance programs individuals are required to meet certain circumstances. Auto insurance is payments that are being paid to make sure the vehicle I driv is coverd if ever something would happen.
Health insurance is almost the same as auto insurance. Health insurance helps when I get sick or one of my loved ones need attention. Both of these insurances are something that people must take serious. Without these two in our lives, things could go really bad. If someone doesn’t have auto insurance and gets into a car accident, then things would be very difficult on their hands. They would have to pay for the person they hit and also their health coverages. When driving with no insurance, people also gets in trouble by the police. It is important to have your vehicle covered.
My health insurance came in handy when I was having back to back anxiety attacks. I had to go to the emergency room also everyday. All the x-rays and body work that the doctors do on the patients cost a lot of money. That’s why it is best to be covered with health insurance. Also health insurance is important when there is death in the family. The health insurance that you are paying for would help pay for the burial or pay everything. It just depend on the policy that is chosen. I didn’t have health insurance at first because I didn’t know how important it could be.