Insurance Type is a broad TERM that encompasses many different types of insurance. TERM insurance is a type of life insurance that provides coverage for a specific period of time. Dental insurance covers the cost of dental care, such as check-ups, cleanings, and treatments. MEDICAL insurance covers the cost of MEDICAL care, such as doctor visits, hospital stays, and medications. No-fault insurance is a type of insurance that covers damages regardless of who is at fault in an accident.