Insurance

Insurance is a promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss.

There are many types of personal insurance: health, home owners, auto, life, long term care, and more. The options and premiums vary widely. Some companies give reduced rates for having multiple policies with one company.

There are agents who represent one company with several different "products", and there are brokers who represent several companies, each having several different products.

Medicare policies alone have become more confusing than ever.

It is advisable to read the actual policy. If an agent or broker balks at this, do not go with this company. If he/she tells you to sign up now and that you'll have so many days to review the policy when the paperwork comes in the mail, do not go with this company.

If you read no other section, read the section that tells you what the policy does NOT cover, the "exclusions". This goes for any type of insurance your are purchasing.

If you feel uncomfortable for any reason, or do not thoroughly understand all the details, do NOT sign anything. Take the time to do your homework.