Insurance Auto, Health and Life

Insurance 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 necessary to have? What types of insurance are necessary to have? Read page 79 Read page 79 p. 80 What do you think?

Insurance Risk protection Risk protection helps pay for damages, injury, law suits helps pay for damages, injury, law suits helps protect your money helps protect your money

Auto Insurance Terms *Liability- protects the person you hit; it covers bodily injury and property damage of others (not your car) *Liability- protects the person you hit; it covers bodily injury and property damage of others (not your car) Personal Injury- covers injuries to you or your passengers Personal Injury- covers injuries to you or your passengers Comprehensive- covers your car against theft, vandalism, weather damage, or collisions with animals (usually has a deductible) Comprehensive- covers your car against theft, vandalism, weather damage, or collisions with animals (usually has a deductible)

Auto Insurance Terms Collision- pays for your vehicle damage caused by collisions (usually has a deductible) Collision- pays for your vehicle damage caused by collisions (usually has a deductible) Deductible- out-of-pocket expenses you pay (insurance company pays the difference) could range from $100-1,000 Deductible- out-of-pocket expenses you pay (insurance company pays the difference) could range from $100-1,000 Underinsured Motor Vehicle Coverage- pays you for damages and/or injury incurred in an accident caused by another person who is not insured or underinsured Underinsured Motor Vehicle Coverage- pays you for damages and/or injury incurred in an accident caused by another person who is not insured or underinsured

Money Savers Good student discounts Good student discounts Clean driving record Clean driving record Non-smoker Non-smoker

Life Insurance Premium- amount you pay monthly or quarterly for a life insurance policy Premium- amount you pay monthly or quarterly for a life insurance policy Policy limit- maximum amount that will be paid for a single type of damage Policy limit- maximum amount that will be paid for a single type of damage

Life Insurance Permanent- costs more Permanent- costs more Term- Term- lasts for a specific amount of time; gets more expensive with age lasts for a specific amount of time; gets more expensive with age may not get this after the age of 65 may not get this after the age of 65

Policy Limits Loss of life- full benefits Loss of life- full benefits Loss of both hands or both feet or sight in both eyes- full benefits Loss of both hands or both feet or sight in both eyes- full benefits Loss of one hand or one foot or sight in one eye- 1/2 of full benefits Loss of one hand or one foot or sight in one eye- 1/2 of full benefits Loss of 4 limbs- full benefits Loss of 4 limbs- full benefits Loss of 3 limbs-3/4 of benefits Loss of 3 limbs-3/4 of benefits Loss of 2 limbs- 2/3 of benefits Loss of 2 limbs- 2/3 of benefits Loss of 1 limb- 1/2 of benefits Loss of 1 limb- 1/2 of benefits

Life Insurance Loss of life covered unless… Loss of life covered unless… Suicide Suicide War or act of war War or act of war Skydiving, parasailing, hang-gliding Skydiving, parasailing, hang-gliding While committing any crime or felony While committing any crime or felony If intoxicated or under the influence of drugs If intoxicated or under the influence of drugs Not wearing seat belt in car accident Not wearing seat belt in car accident

Health Insurance Managed Care Plans Managed Care Plans Have agreements with certain Health Care Providers to provide services at a reduced cost to the member Have agreements with certain Health Care Providers to provide services at a reduced cost to the member Three main types of Managed Care Plans- HMOs, POS, PPOs Three main types of Managed Care Plans- HMOs, POS, PPOs

HMO, PPO, POS HMO- (Health Maintenance Organization), PPO (preferred provider organization, POS (point of service) HMO- (Health Maintenance Organization), PPO (preferred provider organization, POS (point of service) Doctors have to be in the network Doctors have to be in the network Primary Care Physician Primary Care Physician $5-$10 per doctor visit (co-payment) $5-$10 per doctor visit (co-payment) No deductible is required No deductible is required Outside the network, you pay 100% of bill. Outside the network, you pay 100% of bill.

Medicare/Medicaid Medicare- receive insurance coverage at the age of 67 or older or if you are on disability Medicare- receive insurance coverage at the age of 67 or older or if you are on disability Medicaid- for low income families Medicaid- for low income families

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Reaction… How did watching this movie make you feel? How did watching this movie make you feel? What were some of the advantages people had living in France or England? What were some of the advantages people had living in France or England? Do you have any personal experiences with Health insurance? Do you have any personal experiences with Health insurance? Do you think this film is a fair or accurate representation of the Health care industry in U.S.? Do you think this film is a fair or accurate representation of the Health care industry in U.S.?