What is the difference between the different insurance types? (IAE, LTI, XX Months Insurance)

LTI = Lifetime Insurance. This is the most desirable insurance because you don't have to worry about having to have your ship insured against “destruction” later in the game as your ship will have insurance forever and it is hard to get this kind of insurance. 

The IAE insurance is a special 10 year insurance available on certain ships from the anniversary sale. All other insurance variants always have the years or months indicated. Important: Insurance only will matter when the game fully releases and insurance does not matter during the Alpha.