1. Daily Information 5/8 Objectives: 1.Explain the concept of risk. 2.Describe risk and how it relates to insurance. Warm Up: Test Today!! Check your grade in infinite campus Agenda: 1.Warm up 2.Unit 2 Test 3.Credit Breach Article 4.April Budget activity 5.Bottom Line

2. Last Question on Test Tell me the most interesting thing you learned in this unit. Slide 2

3. Daily Information 5/6 Objectives: 1.Explain the concept of risk. 2.Describe risk and how it relates to insurance. Warm Up: Take out your crossword puzzle from last class. Agenda: 1.Warm up 2.Jeopardy Review 3.Bottom Line

4. Daily Information 5/1 Objectives: 1.Explain the concept of risk. 2.Describe risk and how it relates to insurance. Warm Up: What do you currently know about insurance? How many types of insurance can you name? Agenda: 1.Warm up 2.Ch6 P.P. and note guide 3.Bottom Line

5. Daily Information 12/1 Objectives: 1.Explain the concept of risk. 2.Describe risk and how it relates to insurance. Warm Up: Log onto your computer Agenda: 1.Warm up 2.Nov. Budget - Actual Analysis 3.Dec. Budget – Projected 4.Finish Movie 5.Ch6 Vocab. 6.Ch6 P.P. 7.Student notes 8.Bottom Line

6. Daily Information 12/2 (d,h) Objectives: 1.Explain the concept of risk. 2.Describe risk and how it relates to insurance. Warm Up: Record any expenditures in your December budget Agenda: 1.Warm up 2.Finish Movie 3.Ch6 Vocab. 4.Ch6 P.P. 5.Student notes 6.Unit 2 Review 7.Bottom Line

7. November Budget Did you stay within your budget? Explain why or why not What is the hardest thing about budgeting? Project your budget for December Create your December Budget Template Slide 7

8. Daily Information 12/4 Objectives: 1.Explain the concept of risk. 2.Describe risk and how it relates to insurance. Warm Up: Record any expenditures in your December budget Agenda: 1.Warm up 2.Finish Movie 3.Ch6 Vocab. 4.Ch6 P.P. 5.Student notes 6.Unit 2 Review 7.Bottom Line

9. Examples of Risk & Loss Driving a car (risk) o An accident may occur with another car causing personal injury and damage to the car (loss) Snow skiing (risk) o An accident may occur while skiing such as breaking your leg (loss)

10. Risk Management Risk assessment: identifying risks and deciding how serious they are. Use risk strategies to protect yourself against loss. o Reduce risk (change your actions) o Avoid risk (stop a certain behavior) o Transfer risk (buy insurance) o Assume risk (self-insure through savings)

11. Daily Information 12/4 Objectives: 1.Explain the concept of risk. 2.Describe risk and how it relates to insurance. Warm Up: List one example for each of the following: Risk Reduction Risk Avoidance Risk Transfer Risk Assumption Agenda: 1.Warm up 2.Ch6 P.P. 3.Student notes 4.Unit 2 Review 5.Bottom Line

12. Risk Assessment Risk Probability of Occurrence Seriousness Rating* Possible Consequences Losing my jobMedium10  Missed payments  Lower credit rating Getting in a car accident Unknown10  Personal injury  Lawsuit Suffering physical injury from snowboarding Medium3  Missed work time  Medical bills Having bike stolen Low2  New/used bike purchase * 1 is low risk; 5 is medium risk; 10 is high risk

13. Daily Information 12/5 Objectives: 1.Explain the concept of risk. 2.Describe risk and how it relates to insurance. Warm Up: Record any expenditures in your December budget *Take out your notes from last class Agenda: 1.Warm up 2.Ch6 P.P. 3.Student notes 4.Unit 2 Review 5.Crossword Puzzle 6.Bottom Line

14. What is Health Insurance? A plan that shares the risk of medical costs. Could be individual or group (employer) **Better coverage equals higher premiums

15. Types of Health Coverage Fee-for-service (Unmanaged Care) You choose medical providers PPO (MANAGED CARE) Independent health care providers that work together to provide health care. Referrals not required. HMO (MANAGED CARE) Provides prepaid medical care for its members **Managed Care: network of providers

16. Daily Information 12/2 (a) Objectives: 1.Explain the concept of risk. 2.Describe risk and how it relates to insurance. Warm Up: Record any expenditures in your December budget Agenda: 1.Warm up 2.Ch6 P.P. 3.Student notes 4.Unit 2 Review 5.Bottom Line

17. Disability Insurance Provides income when you cannot work due to injury or illness (not work related). It replaces a portion or percentage of normal earnings. Short-term: 30 days Long-term: 90 days

18. Disability Insurance You are unable to work due to an injury. Your short-term disability insurance coverage provides 66% of your regular pay. If your regular annual salary is $42,000 per year, how much is your insurance providing you per month? $42,000 x.66 = $27,720 $27,720/12 = $2,310

19. Life Insurance Pays money to a beneficiary upon the death of the insured person. Temporary or Term: provides a death benefit only. Permanent: provides a death benefit and builds cash value. Group: available through employers

20. What Is Homeowner’s Insurance? Homeowner’s insurance: protects the policyholder from risk of loss to a home and its contents. It covers three types of risk. o Fire and other hazards o Criminal activity o Personal Liability (when others are injured on your property)

21. What if I rent, not own?... **Buy Renter’s Insurance A renter (tenant) cannot insure the building BUT you can insure your contents. Always purchase renter’s insurance to protect against risk of loss of personal property. Just like a homeowners policy, cover things like fire, theft, and other hazards. Includes personal liability coverage for what happens inside your residence.

22. Home Inventory Create a home inventory in case you need to file a claim.

23. How Does Insurance Protect Car Owners? Automobile insurance protects a car owner from losses as a result of accidents and other events. Cost depends on Model/style of car Age (and gender) Driving record of driver.

24. Insurance Coverage Defined o Protects against… o Liability: loss as a result of injury to another person or damage to that person’s property o Collision: damage to our own vehicle if you hit another car or lose control and roll over o Comprehensive: damages to your car from causes other than collision or rolling over o Uninsured/Underinsured Motorist: damages caused by a motorist who is at fault and does not have insurance or the means to pay for your damages.

25. How Can You Reduce Auto Insurance Costs and Maximize Benefits? Reducing costs can raise your overall risk Lower your cost: choose higher deductibles change your driving habits* buy online comparison shop

26. Change your driving habits Lower premium costs Take driving training class Maintain good driving record Get good grades in school Choose a car with high safety rating Park in garage or protected area Reduce risk Drive while rested instead of when tired Keep your car properly serviced Avoid heavy traffic or bad weather Drive defensively; be aware of other drivers Avoid using cell phones, eating or other distractions

27. Daily Information 12/3 (A) Objectives: 1.Categorize types of risk and insurance. 2.Identify specific banking procedures. 3.Identify the purpose of a budget. Warm Up: How can you be prepared in case you need to file a claim for the loss of property due to theft or fire? Agenda: 1.Warm up 2.Complete activity from yesterday 3.Crossword Puzzle 4.Mind Map

28. Daily Information 12/5 (D, H) Objectives: 1.Categorize types of risk and insurance. 2.Identify specific banking procedures. 3.Identify the purpose of a budget. Warm Up: How can you be prepared in case you need to file a claim for the loss of property due to theft or fire? Agenda: 1.Warm up 2.Complete activity from yesterday 3.Crossword Puzzle 4.Mind Map

29. Daily Information 12/5 (A) Objectives: 1.Categorize types of risk and insurance. 2.Identify specific banking procedures. 3.Identify the purpose of a budget. Warm Up: What activities help you review for tests and quizzes? For example: do you think the rags to riches and battleship games help you review? What about Jeopardy? Agenda: 1.Warm up 2.Complete Crossword Puzzle 3.Mind Map

30. Mind Maps – Purpose Quickly identify and understand concepts See the way that pieces of information fit together Helps you remember information in a format that your mind finds easy to recall and quick to review. Good for studying and remembering information

33. Mind Map

34. Mind Map Outline Budgeting: Income, Savings, Expenses 70-20-10 strategy Net Worth Assets Liabilities Fixed expenses Financial Resources Banking Procedures: Bank Reconciliation Endorsements Demand deposit accounts Liquid Assets Savings Bond FDIC Rule of 72 Risk: Management tools Risk assessment Risk of Financial Resources Self-Insure Insurance: Life Insurance (beneficiary) Managed Care Premium/Deductible Disability Insurance Homeowners Insurance Renters Insurance Automobile Insurance (comprehensive, collision) Stop-loss provision Liability Coverage Underinsured/Uninsured Motorist

35. Daily Information 12/8 Objectives: 1.Categorize types of risk and insurance. 2.Identify specific banking procedures. 3.Identify the purpose of a budget. Warm Up: What are the three main categories included within a budget? Agenda: 1.Warm up 2.Mind Map 3.Bottom Line

36. Daily Information 12/9 Objectives: 1.Categorize types of risk and insurance. 2.Identify specific banking procedures. 3.Identify the purpose of a budget. Warm Up: What are the three main categories included within a budget? Agenda: 1.Warm up 2.Mind Map 3.Bottom Line

37. Daily Information 12/8 Objectives: 1.Categorize types of risk and insurance. 2.Identify specific banking procedures. 3.Identify the purpose of a budget. Warm Up: Explain the 70- 20-10 strategy when it comes to budgeting. Agenda: 1.Warm up 2.Jeopardy

38. Daily Information 12/9 Objectives: 1.Categorize types of risk and insurance. 2.Identify specific banking procedures. 3.Identify the purpose of a budget. Warm Up: Explain the 70- 20-10 strategy when it comes to budgeting. Agenda: 1.Warm up 2.Jeopardy

39. Daily Information 12/9 Objectives: 1.Categorize types of risk and insurance. 2.Identify specific banking procedures. 3.Identify the purpose of a budget. Warm Up: Test Today!! Take out your mind map and review. Agenda: 1.Warm up 2.Unit 2 Test 3.Ch. 7 Vocab. 4.Ch.7 Notes

40. Daily Information 12/11 Objectives: 1.Categorize types of risk and insurance. 2.Identify specific banking procedures. 3.Identify the purpose of a budget. Warm Up: Test Today!! Take out your mind map and review. Agenda: 1.Warm up 2.Unit 2 Test 3.Ch. 7 Vocab. 4.Ch.7 Notes 5.Credit Card Activity 6.Textbook Review Questions

41. After the Test Chapter 7 Vocabulary Slide 41

42. Daily Information 12/12 Objectives: 1.Explain the purpose of a budget. 2.Identify proper banking procedures. 3.Categorize different types of risk and insurance. Warm Up: Take out your mind map and review for Unit 2 Test. Agenda: 1.Warm up 2.Unit 2 Test 3.Resume

43. After the Test Log onto your computer Complete your resume project