There is no denying that the insurance industry is like a pavilion with so many interesting products to sell. Some are required by law, others are valuable because they guarantee our safety.
An example of an insurance product that is mandatory under federal law because it is mandatory in every state is auto insurance, whereas long-term care insurance is a classic example of something we don't give up but we feel the need to buy, don't risk losing something of great value. The ALTCS is good for older adults.
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Another good example of a mandatory insurance product is home insurance, where the service provider has life insurance. For the house or real estate, you buy to be financed by a mortgage bank, you must first take out household insurance.
Life insurance, on the other hand, is designed to ensure your well-being and a bright future for your children, your spouse, or someone you identify as a beneficiary at the time of your death. There is health insurance, credit insurance, accident insurance, immigration insurance, crime insurance, and many more.
Of all these insurances, long-term care is in great demand these days. Both young and old are thinking about it or already buying it. I think people value life more today than in the past. You know, in the 19th century people only lived to be 46 years old or less, but at that time and age men lived about 78 years while women outlived them by six years.