Typically, consumer insurance is used for the purpose of managing risk. The risk of loss of life, loss of the ability to earn a living, loss of health, property, catastrophic events like heart attack or stroke and the ability to care for oneself. The risk specific products are;
Life Insurance – Whole Life, Term, Universal and Index Universal Life, some with Living Benefits*
Disability Insurance – Individual, Workers Compensation
Critical Illness Insurance – In the event of heart attack, stroke or terminal illness
Long Term Care Insurance – Pays for assisted living facilities
Final Expense Insurance – Pays for final bills and burial expenses
Medicare Supplemental Insurance – Individual plans for qualified Medicare and Medi-Cal recipients
*Living Benefits pays the insured while living in the event of illness such as stroke, heart attack, cancer, etc.