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. Estate Planning A will spells out your desires for distributing your assets. If you die without a will, your state has laws to determine how your assets will be divided. You may also want to consider signing a living will, which states your wishes for either maintaining or not maintaining life support systems for you. This type of specialty insurance is designed to help you pay for expenses that are related to medical care and are not covered by your health insurance.