Understanding Insurance: Types and Benefits Insurance is a form of risk management that provides financial protection against unforeseen events. There are various types of insurance plans available in the market, each designed to cover specific risks and provide unique benefits tailored to individual needs. Understanding these options can significantly help consumers in making informed choices about their coverage. Health insurance is one of the most common types of insurance, offering protection against medical expenses. It helps cover hospital visits, surgeries, preventive care, and medications. The benefits of having health insurance extend beyond financial relief; it ensures access to necessary healthcare services, promotes wellness through preventative measures, and often includes additional services such as mental health support. Life insurance, another essential type, is designed to provide financial security to beneficiaries in the event of the policyholder's death. T
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