Insurance/benefits question?
Question:
Answer:
Relax. Don't smoke or do drugs. Don't drink alcohol. Avoid trans-fats. Exercise regularly. Brush (soft bristles) your teeth twice a day. Get a good education.
When you get a full-time job and are self-supporting, then you can worry about the other stuff. Your employer will tell you what plans are available, what they cover and what they cost.
If you're working now, invest in a Roth IRA. I suggest you look at Vanguard's S&P 500 Index fund. If you can get $12,000 invested before you are 24, you will never have any retirement worries.
The simple answer to your complicated question: All insurance is to protect you against unexpected and costly catastrophes. For example, with health insurance you pay a relatively small premium monthly and when disaster strikes the insurance company pays the $200,000 hospital bill for your heart transplant.
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