Intro: I am not a trained or educated expert regarding insurance.

Insurance transfers of the risk of a loss, from one to another, in exchange for payment.

For instance, I carry auto insurance.  Auto insurance protects us against financial loss in case one of the cars we own is involved in a car accident (or similar incident).  We chose an insurance company that we pay a fee in case we have an accident.

There are many kinds of insurance available for consumers.  

Six common types of insurance are:
– Auto insurance
– Health insurance
– Home insurance
– Life insurance
– Property insurance
– Unemployment insurance

Some kinds of insurance have more value to to one person than another.
Some kinds of insurance are not needed by most people.

Some people choose insurance because they believe it protects them from a huge financial loss.
Other people choose not to use insurance because they reject it on moral or religious grounds.

What kind of insurance do you value?
What kind of insurance would you like someone to invent?

I would invent foolproof self-esteem insurance. 

Self-esteem insurance would protects us against inevitable emotional pain and loss in case of an “accident”.

More tomorrow.

Note – MSN Money wrote an insightful article entitled “10 kinds of insurance you (probably) don’t need.“