Insureds are individuals who have protection from financial loss through an insurance policy. This protection typically comes in the form of a contract with an insurance company, which states the insurer will pay specified amounts of money in the event that the insured experiences a qualifying loss, usually defined in the policy itself. Furthermore, the insured is typically not liable for any of the payment, allowing them to preserve money in the event of certain types of losses. Insurance policies have long been established as a way for individuals and groups to manage the risk of loss from events outside their control. Most commonly, people are most familiar with insurance in the form of property and casualty coverage, such as homeowners, auto, and business insurance. In these cases, insureds may pay a premium for a specific amount of coverage that will pay out in the event of certain types of losses. This allows individuals to protect their assets and possessions in the event of a natural disaster, theft, and more. In addition to property and casualty coverage, there are a variety of other types of insurance policies including health, disability, and life insurance. These types of insurance can provide financial support in the event of an unforeseen medical expense, disability, or death. Knowing that they have been protected through a policy can bring significant peace of mind to the insureds and their families. By providing coverage in many aspects of life, insureds are given a greater sense of security in what may otherwise be uncertain situations.