The 5 kinds of insurance you need
Understand the basic types of coverage most adults should consider purchasing.
Jan 18, 2026
Written byAmy Capetta
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Slide 1
One’s insurance needs change as circumstances and priorities change. In some cases, it’s a good idea to buy certain types of insurance when you hit a milestone birthday. Turning 50 may prompt you to purchase long-term care insurance, for example. In other cases, you may want to purchase insurance when you experience a life-changing event, such as getting married or having a child.
That said, there are five basic types of insurance that most adults should consider purchasing no matter which stage of life they’re in. Read on to learn about the essential policies that can help protect your financial future.
Sources (2)
- Center for Medicare and Medicaid Services. Information on Essential Health Benefits (EHB) Benchmark Plans. January 14, 2025.
- Guardian. Disability insurance for the self-employed: What you need to know. Accessed May 20, 2022.