Insurance, An Overview Note Information in this presentation is derived from Insurance for Dummies by Jack Hungelmann. I highly recommend this book.

6 Major Risk Areas 1. Significant damage to your home 2. Major Lawsuits 3. Premature Death 4. Long Term Disability 5. Major Medical Expenses 6. Extended Long Term Care 1. Homeowner’s Insurance 2. Umbrella Policy, other liability ins. (e.g., auto) 3. Life Insurance 4. Disability Insurance 5. Health Insurance 6. Long Term Care Insurance

Seven Guiding Principles of Insurance 1. Keep it simple 2. Don’t risk more than you can afford to lose 3. Don’t risk a lot for a little 4. Consider the odds 5. Risk a little for a lot 6. Avoid Las Vegas Ins. 7. Buy Insurance as a last resort 1. Helps you understand 2. “average” person will buy health insurance 3. Renting a speed boat or other high risk product 4. Earthquake Insurance 5. Collision, old car 6. Rush hour liability 7. Grandma’s jewelry

Suability Factor based on Current and future income Current and future assets

Selecting an Insurance Professional Word of mouth Credentials: CPCU, CIC, CLU, AAI

Choosing an Insurance Company Financial Strength

Read the FINE print in the policy!!!!!!!!!!!!!!!!!! Ask your agent questions!!!!!!!!!!!!!!!!!!!!!!!!!!!