1. What is Insurance?

2. An arrangement between an Insurance Company and an individual to protect someone/something. Insurance: Provides Protection from almost anything that can happen Based on the concept of risk and loss Gives you Peace of mind knowing that you will NOT lose everything

3. How does the idea of risk work… Lots of policy holders… All share the risk… When one of them loses… Everyone's money helps pay to replace/rebuild/etc…

4. How does Insurance work?

5. 1. Pay Premium Each month/ year you have a set amount that you pay the Insurance Company (based on the type of insurance you get)

6. 2. Need to use your Insurance You will file a claim with your Insurance company.

7. 3. You may need to pay a “Deductable” Some Insurance companies might make you pay a certain amount before you are able to collect – the amount you must pay is called the Deductable.

8. 4. The Insurance company pays… Sometimes this can take a while They may have you pay the bill and reimburse you They might need proof of your replacement

9. What are some things that I can Insure? House Car Life/Health Possessions Pets/Animals Job/Income and a lot more…

10. Determining your insurance premiums is based on several things… Age Gender Marital Status Condition Driving Record Credit History/Score Grades Type of Insurance Terms of the Policy Deductible Location

11. Trivia Question When talking about Car insurance.. Who pays the highest rates? (meaning the are the most risky?) Teenage male drivers

12. Types of Insurance

13. Automobile Liability – Covers the other motorists – And their expenses (rentals, etc.) Full Coverage – Covers you and anyone else – Also covers medical needs caused by accident What are you required by law to carry?

14. Health What things does this cover? – Your health issues – Prescriptions – Eye/Dental (usually extra) How long are you covered by your parents policy?

15. Life When you die money that will be given to your beneficiary Beneficiary – person who gets the money when you die. Usually for covering burial expenses.

16. Disability/Accidental Covers you if you are injured and not able to work. – Replaces your income – Covers injury expenses (from on the job) – Any medical bills from being hurt while working Cover Leave for medical reasons – Maternity leave Accidental Insurance (Aflac) – Separate but is similar

17. Which insurance do you use… You back into another car by accident and cause damage to both vehicles. You fall off a ladder and break your arm, you will still be able to work. Another car hits you, they have insurance. Your Uncle Floyd dies.