Life Insurance and Annuities Two important questions for individuals and families are "What types of insurance are necessary?" and "How much coverage do I need?" Listed below are common types of "personal" insurance policies in place throughout the country today. ATI Financial Services can provide much more information in these areas, including a needs analysis, quotes, and comparisons.Life InsurancePerhaps your most valuable asset is your earnings potential. Your current and future income streams guarantee that monthly bills are paid, college tuitions are provided for, and your family's lifestyle will be maintained. Typically, life insurance is more important for families with young children who still have years of needed support ahead of them. As children mature and graduate from college, financial responsibilities normally lessen for the parents.Disability InsuranceWhen protecting your income-earning potential, make sure to think about disability. What would happen to your family if you become disabled and were unable to work? Many employers offer disability coverage (short-term and/or long-term) as a benefit, which may be the lowest cost option as compared to purchasing a policy on the open market.Long-Term Care InsurancePrivate long-term care insurance is growing in popularity in the U.S. This insurance covers costs for care generally not covered by health insurance, Medicare or Medicaid. Many individuals may feel uncomfortable relying on their children or family members for support. Without long-term care insurance, the cost of providing these services may quickly deplete the savings of the individual or family. It is also important to note that premiums paid on a long-term care insurance product may be eligible for an income tax deduction.