Health, life, auto, home, and business insurance are all types of insurance. Health insurance covers medical expenses, such as doctor's visits, hospital stays, and prescription drugs. Life insurance provides a payout to your loved ones in the event of your death. Auto insurance protects you and your vehicle in case of an accident. Home insurance helps cover the costs of property damage and liability if something happens on your property. Business insurance covers a wide range of risks, including property damage, liability.