What are the differences between life insurance, health insurance and property insurance?

Life insurance, health insurance and property insurance are all types of insurance that can be purchased in Washington to protect against financial losses. Generally, life insurance protects a person’s family from financial hardship in the event of the insured’s death. It will provide a lump-sum cash payment to the insured’s beneficiaries. Health insurance covers medical costs for the insured. These costs can include doctor visits, hospitalizations and medicines. Health insurance provided by employers or purchased through state or federal marketplaces often covers preventive services, such as routine screenings and vaccinations, as well as services like physical therapy. Property insurance is designed to protect a person’s home, car and other physical assets from loss due to theft, vandalism, damage or other losses. Property insurance is usually provided through a homeowners or renters insurance policy and can include coverage for personal items, such as jewelry, art and electronics. Life insurance, health insurance and property insurance are all important aspects of personal financial protection and are subject to state insurance regulations in Washington.

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What are the differences between life insurance, health insurance and property insurance?

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