It is possible to insure nearly any aspect or aspect of life. However, not every insurance is appropriate for everyone. This means you need to be covered by: Insurance for health to pay for medical expenses for yourself, as well as your children or spouse should you are covered. The life insurance to help you provide for your family members or to pay off the debts you owe after your death. Insurance for renters or homeowners to protect your home and important property. Auto insurance is a way to safeguard your vehicle.