INSURANCE 2 MORE ABOUT INSURANCE Personal Finance WHY
INSURANCE 2 MORE ABOUT INSURANCE Personal Finance
WHY DO WE NEED INSURANCE?
WHEN YOU PURCHASE INSURANCE, YOU ARE PUTTING YOUR MONEY INTO A GROUP FUND— WHICH WILL _______!
BY PURCHASING INSURANCE YOU ARE _____ THE _________ WITH ALL THE OTHER ________.
WHAT TYPES OF INSURANCE IS AVAILABLE?
DISABILITY RENTERS OR
WHAT TYPE OF INSURANCE SHOULD I PURCHASE FIRST? ________(along with disability and auto/property) should be the _____ you purchase.
INSURANCE Generally, the ______ the deductible, the _______.
WHAT IS A PREMIUM? The premium is the ____ of the _____ and is paid monthly/every six months/yearly if purchased on your own. The premium cost is ______ from your ____ if the employer provides the insurance.
WHAT IS A DEDUCTIBLE? The deductible is the ________ when a claim is “settled”. It is the amount that has to be paid _____before the insurance pays _______.
LIFE INSURANCE
https: //www. humana. com/learningcenter/insurance-101/videos/what-ishumana-term-and-whole-life-coverage
TERM LIFE INSURANCE How it Works • Term insurance is the most straightforward form of _____. You generally pay premiums on a ____ or _____ and your family is protected for that “____".
TERM LIFE INSURANCE How it Works • This is the only type of life insurance which _______ have a ____. • This type of insurance only pays a ________.
TERM LIFE INSURANCE Typical Uses: • Help provide for a _________ • Cover short- term _____ and ______ • Provide additional insurance protection during the _____ years • Provide longer term protection to help your family pay off a ____, or to help pay for a _____ education
WHOLE LIFE INSURANCE How it Works • Whole Life Insurance offers level premiums and life insurance protection for as long as ____, provided that premiums are paid as required to keep the ______. • Whole Life policies also provide for the accumulation of ______ on a ______ which can be used when you need it, to help with _____ opportunities. • Policy loans do _____, and any outstanding policy loans and interest will reduce the death benefit and cash value.
WHOLE LIFE INSURANCE TYPICAL USES: • Provides for a family’s _____, ______, and ______ needs • Access to _____ for life’s opportunities • Leaving a _______ for the next generation
WHOLE LIFE INSURANCE CASH VALUE • If the insurance has a cash value, the policy can be surrendered for a calculated amount of ______ which includes the _____ as well as the _______ on that money. • The cash value is a _____ that increases over the years. If the policyholder ____, the beneficiary receives the _____, but not the _____.
WHOLE LIFE INSURANCE DEATH BENEFIT (______) The amount of coverage of a life insurance policy. This is the amount the beneficiary will receive in _______________.
http: //www. slideshare. net/healthcompare /what-the-heck-are-managed-health-care -plans
HEALTH MAINTENANCE ORGANIZATION “____” MANAGES OR ARRANGES _______ CARE FOR THEIR CLIENTS
WHAT IS A MANAGED HEALTH CARE PLAN? A managed health care plan means you usually must ____ with your _____ health care _______ before seeing a ______. The primary health care physician “______” your health care. A ______ may be required when seeing your primary care _____.
AUTO INSURANCE POLICIES If you decide to change ____ insurance policies, make sure ______ at 12: 01 AM following the _____ of the old policy (policies _____ at _______). A ______ in policy may leave you _____ if you have an accident.
HOW CAN YOU REDUCE THE COST OF AUTO INSURANCE? By _____ your _____ coverage if you have an ______ car can save you _____$!
UNINSURED OR NO FAULT Uninsured or “_______” auto protection covers the _____ to the policyholder and family members. Uninsured or “no fault” motorist’s protection also ______, ____ due to _______, car ____ caused by a hit-and-run driver, or the cost of other people’s injuries by a driver who has ________.
DISABILITY INSURANCE Disability insurance protects against the _______ effects of not being able to _______.
WHAT IS LIABILITY INSURANCE? Liability insurance covers you in case someone is ____ on your _____ or in your ____.
WHAT IS A FLOATER?
A Floater can cover your valuables can such as jewelry, paintings, etc.
FLOATERS • A ______ “floater” may be needed if you have _______ jewelry or other items. • It covers the _____ of _____ should the item get _____ or _____.
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