Fidelity Smart MoneySM Playbook

How to help crisis-proof your life

Insurance boot camp

Part of any good financial plan is protecting yourself from the potentially steep costs of life’s curveballs. The financial burden that can come from a serious medical diagnosis, house fire, or car accident only magnifies the emotional toll these things can already take. That’s where insurance comes in. You pay an insurance company a monthly, quarterly, or annual premium, and they help cover costs related to your crisis, depending on the policy you have. Even if you never file a claim, you’re paying for peace of mind should an emergency hit.

6 min estimated reading time

Select one of these major types of insurance to learn what it is, how to shop for it, and how to save.

Help me take action

1. "1 in 10 Adults Owe Medical Debt, With Millions Owing More Than $10,000," KFF, March 10, 2022. 2. "Americans’ Challenges with Health Care Costs," KFF, July 14, 2022.

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