Employers often provide health insurance, frequently by sharing the cost with the employee. A preferred provider organization is a medical insurance plan that contracts with medical providers for a discounted rate on medical services. This type of organization takes a financial risk to provide members with specific medical services for a fixed price and for a given period of time. An HMO does not allow a person to see a physician outside of the network. As a result, HMOs are more effective in controlling costs by paying physicians on a capitated basis and monitoring costs involved in treating patients, such as reviewing utilization rates, referral patterns, and methods of treatment.
Term insurance is designed to cover the risk of death during a certain period only.
Whole life insurance, on the other hand, creates a benefit for the insured's whole life. Disability Insurance Disability insurance is designed to provide you with a benefit to replace your lost income in the event of a disability. The benefit is based on your level of pay before the disability. Some employers provide group disability insurance. Property and Casualty Insurance Property and casualty insurance covers losses to your personal property and liabilities for causing harm to others.