For starters, you will need health insurance. Everyone needs medical care. Even if you're in good he...

1. Retirement: Insurance basics - Ultimate Guide to Retirement
For starters, you will need health insurance. Everyone needs medical care. Even if you're in good
health and you don't get sick a lot, there is no way to anticipate accidents and injuries, and having
regular checkups is a crucial part of living a long and healthy life. The cost of medical care is now so
high, that one minor accident can send you into debt for years or bankrupt your family.
You might also need life insurance, though not everyone does. For example, if you're healthy and
have no dependants, you probably don't need life insurance. But if you have a child, a spouse, a
parent or sibling that depends on you financially, you'll want to make sure they're taken care of
should anything happen to you. Even if you don't have dependents, you might just want a policy that
will at least relieve your relatives of the burden of funeral costs.
Now, here's where it gets really morbid - what if you're in an accident and you don't die, but become
incapacitated and unable to care for yourself? That can be a huge burden on your family, and even
more expensive than funeral costs. That's where long-term care insurance comes in. And if you're
lucky enough to live a long, healthy life, long-term care insurance will cover nursing home costs for
you when you're elderly, or even pay for your elderly parents' stay.