How expensive is insurance?
There are different kinds of insurance that most people need. There's life insurance, health insurance, homeowners, auto, disability and long term care insurance. Each of them have their own cost, depending on your situation. Life insurance ranges depending on how old you are, what kind of health condition you are. If you're older and you're a smoker in bad health condition, it's going to cost you much more than if you're younger and in good health condition. Health insurance is typically paid for by the employer for the most part. But that's been going up really quite dramatically. Disability insurance protects you in case you are disabled on the job. There are relatively few companies offering that, and that's been getting quite expensive lately as well. And then you've got car insurance, which very much depends on your driving record. If you have accidents, your car insurance rates are going to go up much more dramatically, than if you don't have accidents. So in general, insurance is based on the risk of having claims to the company. And the more risk that they're going to have claims - the higher you're going to pay in premiums.
