Upload
aaron-crumbley
View
219
Download
2
Embed Size (px)
Citation preview
InsuranceInsurance
Auto, Health and LifeAuto, Health and Life
InsuranceInsurance
Why do people have insurance?Why do people have insurance? What kinds of insurance can you get?What kinds of insurance can you get? What types of insurance are What types of insurance are
necessary to have?necessary to have? Read page 79Read page 79
p. 80 “What do you think?p. 80 “What do you think?
InsuranceInsurance
Risk protectionRisk protection helps pay for damages , injury, law suitshelps pay for damages , injury, law suits helps protect your moneyhelps protect your money
Auto Insurance TermsAuto Insurance Terms *Liability*Liability- protects the person you hit; it - protects the person you hit; it
covers bodily injury and property damage covers bodily injury and property damage of others (not your car)of others (not your car)
Personal InjuryPersonal Injury- covers injuries to you or - covers injuries to you or your passengersyour passengers
ComprehensiveComprehensive- covers your car against - covers your car against theft, vandalism, weather damage, or theft, vandalism, weather damage, or collisions with animals (usually has a collisions with animals (usually has a deductible)deductible)
Auto Insurance TermsAuto Insurance Terms
CollisionCollision- pays for your vehicle damage - pays for your vehicle damage caused by collisions (usually has a caused by collisions (usually has a deductible) deductible)
DeductibleDeductible- out-of-pocket expenses you pay - out-of-pocket expenses you pay (insurance company pays the difference) (insurance company pays the difference) could range from $100-1,000could range from $100-1,000
Underinsured Motor Vehicle CoverageUnderinsured Motor Vehicle Coverage- pays - pays you for damages and/or injury incurred in an you for damages and/or injury incurred in an accident caused by another person who is not accident caused by another person who is not insured or underinsuredinsured or underinsured
Money SaversMoney Savers
Good student discountsGood student discounts Clean driving recordClean driving record Non-smokerNon-smoker
Life InsuranceLife Insurance
PremiumPremium- amount you pay monthly - amount you pay monthly or quarterly for a life insurance policyor quarterly for a life insurance policy
Policy limitPolicy limit- maximum amount that - maximum amount that will be paid for a single type of will be paid for a single type of damagedamage
Life InsuranceLife Insurance
PermanentPermanent- costs more - costs more Term- Term-
lasts for a specific amount of time; gets lasts for a specific amount of time; gets more expensive with agemore expensive with age
may not get this after the age of 65may not get this after the age of 65
Policy LimitsPolicy Limits
Loss of life- full benefitsLoss of life- full benefits Loss of both hands or both feet or sight in Loss of both hands or both feet or sight in
both eyes- full benefitsboth eyes- full benefits Loss of one hand or one foot or sight in Loss of one hand or one foot or sight in
one eye- 1/2 of full benefitsone eye- 1/2 of full benefits Loss of 4 limbs- full benefitsLoss of 4 limbs- full benefits Loss of 3 limbs-3/4 of benefitsLoss of 3 limbs-3/4 of benefits Loss of 2 limbs- 2/3 of benefitsLoss of 2 limbs- 2/3 of benefits Loss of 1 limb- 1/2 of benefits Loss of 1 limb- 1/2 of benefits
Life InsuranceLife Insurance
Loss of life covered unless…Loss of life covered unless… SuicideSuicide War or act of warWar or act of war Skydiving, parasailing, hang-glidingSkydiving, parasailing, hang-gliding While committing any crime or felonyWhile committing any crime or felony If intoxicated or under the influence of If intoxicated or under the influence of
drugsdrugs Not wearing seat belt in car accidentNot wearing seat belt in car accident
Health InsuranceHealth Insurance
Managed Care PlansManaged Care Plans Have agreements with Have agreements with
certain Health Care certain Health Care Providers to provide Providers to provide services at a reduced services at a reduced cost to the member cost to the member
Three main types of Three main types of Managed Care Plans- Managed Care Plans- HMOs, POS, PPOsHMOs, POS, PPOs
HMO, PPO, POSHMO, PPO, POS HMO- (Health Maintenance HMO- (Health Maintenance
Organization), PPO (preferred Organization), PPO (preferred provider organization, POS provider organization, POS (point of service)(point of service) Doctors have to be in the Doctors have to be in the
networknetwork Primary Care Physician Primary Care Physician $5-$10 per doctor visit (co-$5-$10 per doctor visit (co-
payment)payment) No deductible is requiredNo deductible is required Outside the network, you pay Outside the network, you pay
100% of bill.100% of bill.
Medicare/MedicaidMedicare/Medicaid
Medicare- receive insurance Medicare- receive insurance coverage at the age of 67 or older or coverage at the age of 67 or older or if you are on disabilityif you are on disability
Medicaid- for low income familiesMedicaid- for low income families
PaperPaper
MUST BE MUST BE ONEONE PAGE LONG. PAGE LONG.
I MUST BE ABLE TO READ IT WITHOUT ANY I MUST BE ABLE TO READ IT WITHOUT ANY DIFFICULTY.DIFFICULTY.
DO NOT LEAVE A SPACE BETWEEN PARAGRAPHS.DO NOT LEAVE A SPACE BETWEEN PARAGRAPHS.
DO NOT WRITE USING DO NOT WRITE USING OVERSIZEDOVERSIZED or or BUBBLYBUBBLY LETTERS TO TAKE UP MORE SPACE!!!LETTERS TO TAKE UP MORE SPACE!!!
MUST BE HANDED IN TODAY.MUST BE HANDED IN TODAY.
Reaction…Reaction…
How did watching this movie make you feel?How did watching this movie make you feel?
What were some of the advantages people What were some of the advantages people had living in France or England?had living in France or England?
Do you have any personal experiences with Do you have any personal experiences with Health insurance?Health insurance?
Do you think this film is a fair or accurate Do you think this film is a fair or accurate representation of the Health care industry in representation of the Health care industry in U.S.? U.S.?