While insurance is probably considered by most people to be a financial burden, it is a product that should not be ignored. Insurance provides protection against unexpected losses. As newlyweds, there are several important types of insurance you will need to consider:

1. AUTOMOBILE INSURANCE provides a number of coverages. Liability insurance is a requirement in many states. If the vehicle is being financed, the mortgage company will require comprehension and collision coverages. Other coverages available include uninsured motorist, medical payments, towing and road service, and rental reimbursement.

2. HOMEOWNERS INSURANCE. Some of you will start your new life together in your own house, while some will rent. In either case, you can purchase insurance to protect your property.

If you're buying your home, your mortgage company will require you to carry homeowners insurance. This covers the house itself, contents of the dwelling, and liability (in case someone is injured in or on your property). Additionally, they may also require you to carry flood insurance, which is separate from homeowners insurance.

If you rent your home, renter's insurance is available to cover your possessions inside your residence. The building itself will be insured by whoever owns it.

Whether you're buying or renting your home, any articles of excessive value (jewelry, fur coats, guns, etc.) will have to be mentioned specifically in order to be covered. The insurance company may require an estimate of the value of each.

To protect yourself further, it's a good idea to videotape or photograph your possessions in detail.

3. HOSPITALIZATION AND MAJOR MEDICAL. Health insurance is a necessity, due to the high cost of medical care today. Hospital room and board costs around $300. per day on an average, and the hospital may require a substantial deposit if you have to be admitted. Disability coverage is also extremely important. If, for some reason, you are injured and you cannot work, disability will pay you a certain amount of money as long as you are disabled.

Many businesses offer group health insurance to their employees, which also covers spouses and children. If your employer does not have a group health plan, an individual policy can, and should be, obtained. As health plans vary, your insurance agent will help you decide which plan is best for your family.

An important point to remember about health insurance is that, in general, coverage cannot be obtained for any condition once that condition already exists. This is especially important to remember in terms of eventual family planning. Once you find out you are "expecting", you will not be able to obtain maternity coverage. Be sure to plan ahead!

4. LIFE INSURANCE is designed to protect your family. The younger you are at the time you purchase life insurance, the lower the premium. Also, many policies build up cash value over a period of time, and you can borrow from them if you get into a financial pinch.

5. RETIREMENT. It's never too early to begin. The more you put aside now, the more you have later. Numerous plans are available at savings institutions and through your insurance company.

In planning for your upcoming wedding and your life together, don't forget to modify any existing insurance policies you have, and other important documents, to reflect your new status. You should make any necessary changes, such as name change, address change, add your spouse to your auto policy, and change the beneficiary on life policies, if desired.

Insurance of all types should be reviewed annually. It's there for your protection. Insurance is a method of financial planning. It provides you with the stepping stones to insure your future.