Health Insurance Health insurance is a generic term for many different forms of coverage. It most often means coverage for medical expenses, such as fees for doctors or hospitals. Disability income insurance also is categorized as health insurance. Disability income coverage replaces income lost when the insured is unable to work because of accident, illness or pregnancy. Health insurance benefits can cover more than medical expenses incurred as a result of accident or illness.
Some policies routinely pay for normal pregnancy and well baby care.
Other types of coverage, for example auto insurance, may pay some medical expenses. Group plans provided as an employee benefit provide health insurance coverage for most Americans. Life Insurance Term insurance and cash value insurance are the two basic types of life insurance. Cash value life insurance combines protection with a savings or investment feature. Premiums remain level for the life of the policy.