Long term care insurance helps pay for such things as skilled nursing care, rehabilitation, help with activities of daily living, and care oriented conditions like Alzheimer’s. It allows families who want to take care of loved ones at home the ability to do so.

There are two different types of term life insurance. Annually renewable has to be renewed every year and the premium will increase every year as you age. A level premium policy is a policy with a fixed price during the extended policy term instead of increasing with age. Level premium policies tend to have higher premiums where as annually renewable policies have lower premiums that increase more often. Different companies have different rules about when a physical exam is required for renewal of the policy.

Most experts recommend term life insurance because it is simple, flexible and more easily compared by price.

There are many companies providing disability insurance and every policy is different. Some disability insurance policies are more restrictive than others with their definition of disability. The following is a list of things to look for in a disability insurance policy:

• an income replacement percentage of 60-80%
• long-term disability that covers you to 65 years of age
• a liberal definition of disability that includes conditions like mental illness, stress disorders, severe migraine headaches and back pain
• what does the company define as income to be replaced? salary only? bonuses? commissions?
• what is the maximum monthly payment? Some companies offer policies specifically designed for professionals and high-wage employees. These may be called “own employment policies” meaning that you are considered “disabled” if you are unable to do your job not just any job.

Collision insurance covers your car in the event of damage in an accident. If your car is an older one and not of much monetary value you may opt not to buy collision insurance. For instance, if the 6 month premium for the collision portion of your automobile insurance totals more than the book value of your car it probably makes sense not to purchase it.

Liability insurance has two parts: bodily injury and property damage. Bodily injury liability covers the other guys medical bills, loss of income and pain and suffering in the event of an accident that is determined to be your fault. Property damage liability covers the others guys car and that mail box you ran over. Each state has minimum requirements for liability coverage. If you own a home or other valuable assets you will probably need more than the minimum requirements to protect them in the event of a lawsuit should you injure someone in an accident.

There are other subsets of auto insurance that vary from state to state. Uninsured motorist coverage protects is you and your passengers should you be involved in an accident that is the fault of an uninsured or underinsured driver. Medical Payments(MedPay) insurance is extra auto insurance that will specifically cover your medical bills that may not be covered by the other guys insurance or if you or your passengers are injured in a no fault accident. Personal Injury Protection(PIP) is similar to MedPay and is required in many states that don’t require uninsured motorist insurance. Comprehensive auto insurance covers your car from things like vandalism, fire, theft and some natural disasters like hale. Like collision insurance, if your car is of minimal monetary value you may forego this type of auto insurance.

Some companies will give you a break on your automobile insurance if you also carry other types of policies with them like home owners insurance. Other discounts may be given if you have anti theft devices, if you have attended a defensive driving course,if you park your car in a garage and depending on the number of years you have been with your company. Other things that can effect the price of your automobile insurance are your driving record, where you live, age of drivers on the policy and the type and number of vehicles on the policy.