Life insurance is an insurance contract that provides your beneficiaries with a lump sum of money at the time of your death. There are two main types of life insurance: term and permanent. Term life insurance provides financial protection to children or dependents for a specific period of time. Permanent life insurance offers more comprehensive coverage, which may be better for developing an estate plan and leaving an inheritance for your survivors. You can choose from several types of permanent life insurance, including whole, universal, burial, variable universal, and survivorship life insurance.

Disability insurance isn’t just for risky occupations. This type of insurance provides coverage if you’re unable to work for various reasons, such as arthritis, back pain, diabetes, car accidents, pregnancy, and mental health. 

Disability coverage supplements a portion of your income, and depending on your circumstances, you may be eligible for Social Security Disability Insurance (SSDI), employer-sponsored group disability insurance, or individual disability policies. Some disability plans have a monthly payout cap that limits how much you can draw from your policy. Also, most plans have a waiting period before coverage begins. Refer to individual policy information to assess factors like these when choosing your plan. 

Dental insurance helps cover the cost of dental exams and treatment. Vision insurance helps with the costs of vision exams and eyewear. Benefits vary among plans, but common coverage includes routine cleanings, dental surgeries, and some corrective surgeries.

How to get dental and vision insurance 

You can get dental or vision insurance on your own or through your workplace if they’re offered as a benefit. Review the plan details and coverage options provided, and become familiar with your provider network. 

Pet insurance can help cover costs related to your pet’s healthcare, including emergencies, overnight vet stays, and unexpected illnesses. It helps reimburse covered veterinary costs from accidents and illnesses — like ear infections, broken bones, and cancer. However, certain expenses — like grooming, food not prescribed by a vet, and elective surgeries — generally aren’t covered. 

Homeowners insurance may be mandated by mortgage lenders in order to get a homeowner’s loan. This coverage provides financial protection in case your home is damaged. Most home insurance policies help cover costs related to dwelling and personal property damage, additional living expenses, and certain types of natural disaster damage. 

Homeowners insurance generally isn’t offered by employers, so you'll most likely need to purchase a policy on your own. Evaluate your coverage needs by considering the value of your property, its contents, and any additional structures you want to insure before choosing a provider. 

A landlord’s insurance covers any structural damage to your rental home or apartment, like roof repairs or fire damage. Renters insurance, however, provides financial protection for your personal belongings while you’re renting 

Renters insurance is most often purchased by an individual through an insurance provider. Compare coverage, deductibles, and premiums, and then choose a plan that aligns with your needs and budget. 

According to the Administration for Community Living, about 60% of people will require long-term care at some point. And no matter what type of long-term care you may need, it can get costly. Long-term care (LTC) insurance helps pay for costs related to a variety of long-term care services, including in-home assistance, short- or long-term nursing home stays, and adult day care. 

Some may wait to invest in LTC when they’re in their 50s or 60s. However, the cost to purchase LTC insurance can increase with age, which may make it more cost-effective to enroll at a younger age. Some life insurance policies allow you to add an LTC rider, so contact your insurance agent or human resources representative to learn more about your options. 

Almost every state requires drivers to have auto insurance. Car insurance helps cover costs related to accidents, car theft, or damage to your vehicle from natural disasters. It may also help protect you against lawsuits related to an accident. 

Travel insurance is designed to safeguard travelers against unforeseen events and financial losses associated with a trip. It offers coverage for things like trip cancellations, lost or delayed baggage, medical emergencies, and other travel-related expenses.