FOR IMMEDIATE RELEASE
October 1, 2002

CONTACT:
Jennifer May, PIIAI Industry Affairs Coordinator
(217) 793-6660 or jmay@piiai.org

PIIAI Offers Advice on Understanding Personal Insurance

Insurance is a means of guaranteeing your financial protection against various risks. Different kinds of insurance cover different circumstances, and finding the right protection could become confusing. The Professional Independent Insurance Agents of Illinois (PIIAI) offers the following advice, because it is important to understand what options are available. While policies are available for business purposes, consumers should be aware of what types of insurance are suitable for personal needs. Personal insurance is divided into four main categories: Property/Casualty, Life Insurance, Health Insurance and Government Benefits.

Property/Casualty Insurance provides protection for personal property such as homes, cars and household possessions, in addition to protection from liability as a result of their use.

Life Insurance provides funds to a designated beneficiary or beneficiaries in the event of an insured's death.

Health Insurance pays for doctor visits, hospital stays, diagnostic tests and other health-related expenses. Disability Insurance, a form of insurance that combines elements of life and health insurance, compensates for income lost due to a disabling injury or illness. Life, health and disability insurance are often provided through employers. Obtain details from your employer about these coverages and look over them with your independent agent to be sure your employer's plan meets your needs.

Government Benefits are insurance programs paid for through federal taxes, and run by the federal government. Social Security is a retirement and disability program in which almost all workers in the U.S. are required to participate. Medicare is a federally sponsored health program for persons over age 65 and persons with disabilities. Individual state governments and the federal government fund Medicaid to extend health coverage to poor Americans. In addition, laws in most states require employers to carry workers compensation insurance to compensate workers that may be injured or exposed to an illness on the job. Many states also require employers to pay into unemployment insurance, so if a worker is laid off, he or she will receive financial assistance while seeking a new job.

The best way to ensure that your finances and property are protected from the risks you face is to go over your insurance needs with a trained professional. An independent insurance agent can help you determine the types of coverage you need, and then help you find the best price available for that coverage. To find an independent insurance agent near you, or to locate helpful tips on insurance, visit www.ChooseIndependent.com.

The Professional Independent Insurance Agents of Illinois is an association representing independent insurance agents throughout the state. PIIAI membership is comprised of 1,500 insurance agencies representing 12,000 licensed independent agents engaged in all facets of the insurance industry, including property, casualty, life and health. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. In addition to serving the professional needs of members, PIIAI works for the betterment of the insurance industry through legislative and consumer awareness programs. The PIIAI is headquartered in Springfield, Illinois. Visit PIIAI's consumer website at www.ChooseIndependent.com or agent website at www.piiai.org.

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