|Type of Insurance |Functions |Coverage Characteristics |Companies That Offer It | |Auto | |This assists to pay for the damages to aperson’s |AAA, State Farm,Geico, Farm BureauInsurance | | | |ownautomobile and others. This also insurespersonal | | | |This kind of insurancedefends the car against |injurieshappened in a car mishap. Thisadditionally | | | |responsibilityand property dangers |reduces theresponsibility for assetdamages | | |Home | | | | | | |Assists protect or decrease the sum of damage from |AAA, State Farm,Liberty Mutual | | |This kind of insurance coverage defends the home owner |things like fire, deluge, and criminal damage.
This | | | |against responsibility as well as property dangers of a|might also decrease the sum of up front | | | |house | | | |Health | |: insurance providing comepensation for medical |United health care, medicated, medicare | | |Insurance against loss through illness of the insured; |expenses | | | |especially: insurance providing comepensation for | | | | |medical expenses | | | | | | | | |Disability |a program providing financial support to one affected |Short-term:unable to work due to an illness injury or |Provide by social security and reitrierment/ 4o 1k | | |by disability |birth of a child.
Long-term: unable to work after illness were you can | | | | |not work at all any more | | |Life |Insurance providing for payment of a stipulated sum to |Term Life: coverage at a fixed rate of payments for a |AAA, nationl, mutual Omaha, ARP | | |a designated beneficiary upon death of the insured |limited time | | | | | | | | | |Whole Life:an contact between an insured and insuer to | | | | |pay insurance to 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.