Insurance!

Journal Replacement Activity Don’t get anything out but a pencil! Put a check in the left hand column if you get it, the right hand column if you would like some review

What is the point of insurance?

Key Terms (General) Agent - A person who sells insurance; your direct contact with an insurance company. Deductible - The amount of money you agree to pay when there is a loss Premium - Typically monthly fee that you pay for insurance Policy - an insurance contract which contains the pertinent facts about the policy owner, the insurance coverage, the insured and the insurer Insured - The person getting insurance Insurer - The company giving insurance At-fault - Describes the person who did something to cause an accident

Group Research Use the files your group gets to become an expert on one type of insurance. Follow the instructions on the first page of your packet to study about your assigned type and prepare a presentation. You may use your phones to do additional research/look up words you don’t understand 10 minutes… Ready, Set, Go!

Not a Journal OBJECTIVE Students will be able to… Describe differences in insurance coverage policies Determine what insurance would be a good investment for them and what wouldn’t AGENDA Prepare Presentations Presentations/Insurance Activities Immediately get back together with your insurance group to finalize your presentations. Decide who will be doing what in the presentation (everyone needs to participate!) Finish highlighting your file so that you can turn it in when you present If you have extra time, practice your presentation so you can work out any kinks

Announcements I won’t be here on Thursday You’ll be taking a test Look for a study guide online tonight Don’t forget the stock market game – 3 Fridays left

Presentations While each group gives their presentation, I expect you to give them your full and undivided attention. Take notes on the terms and definitions that they say are important After they present, I will have additional notes/activities for you to do to finalize our understanding of the topic Class goal: Smooth transitions between activities

If you have a higher deductible, your premium will be lower Car Insurance Filing a claim Liability Insurance- This is the one that you have to legally have Covers damage to other people’s stuff Collision- Covers damage to your car in an accident Comprehensive- Everything else If you have a higher deductible, your premium will be lower

Car Insurance - Activity Story Time! Now fill out the accident report based on the event that I just described to you What were some difficulties of filling out that report? How can you be better prepared in case you ever get into an accident?

Home Insurance What does it cover? Liability- Protects people who get hurt on your property Renter’s Insurance- Pretty inexpensive insurance that covers your belongings if you rent, rather than own a home. Get this. Typically, you can bundle it with your car insurance

Home Insurance - Activity Homework!!! Go home and list everything (within reason) you can in your bedroom, and estimate its value Then answer the questions at the bottom of the page

Life Insurance Provides your family money in the case of your death, to help cover the loss of income Permanent Policy- As long as you pay your premiums, you’ll be covered Term Life Insurance- Usually cheaper plan that expires after a period of time called a term

Life Insurance- Activity Decide whether each scenario described on your worksheet describes a term life insurance policy or a permanent insurance policy

Health Insurance HMO v. PPO HSA – Tax advantaged investment accounts where the money has to be used for approved medical purposes. Copayment

Health Insurance- Activity Follow the Instructions on the worksheet

Disability Insurance Elimination period – The amount of time you have to wait before your insurance to kick in. Doesn’t pay your bills for you, just replaces your income

Disability Insurance – Activity Figure out my boy Johnny’s life situation for me. He’s trying to decide whether or not disability insurance is worth it.