Insurance Matrix Essay

Submitted By teishlaN
Words: 360
Pages: 2

Insurance Matrix
Teishla Navarro
FP/101
April, 29, 2013
Susan Schulz

Insurance Matrix
The two insurances that people have nowadays is auto and health insurances, tons of people need these insurance throughout life. You will always need a car and with a car you have to pay auto insurance to drive it. Health insurance is for when you need to go to the doctors or the hospital and it will cover the bills for you. Although you need these two insurance they are completely different but same at the same time.
Health insurance is insurance which protects us against unexpected costs due to illness, accident, or disability. This type of insurance works like property and liability insurance. Auto insurance is a policy purchased by car owners to be protected if they got into an auto accident. Instead of paying out of their pockets the insurance covers most or all of the accident.
The health insurance deductible refers to the amount of money that you would need to pay before any benefits from the insurance policy can be used. Some services, like doctor visits, may be available without meeting the deductible first. It also requires that you pay the deductible once a year, after which the insurer compensates you for your losses. Auto insurance applies the deductible to each individual loss. It’s important that you choose a deductible that you can afford, imagine you need to fix your car and you can’t cover your deductible. Auto insurance premiums, vary depending on: age,…