Insurance

1
Insurance

• Auto, Health and Life

2
Insurance

• Why do people have insurance?
• What kinds of insurance can you get?
• What types of insurance are necessary to have?
• Read page 79
• p. 80 What do you think?

3
Insurance

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

4
Auto Insurance Terms

• 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
• Comprehensive- covers your car against theft,
  vandalism, weather damage, or collisions with
  animals (usually has a deductible)

5
Auto Insurance Terms

• 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
• 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

6
Money Savers

• Good student discounts
• Clean driving record
• Non-smoker

7
Life Insurance

• 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

8
Life Insurance

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

9
Policy Limits

• Loss of life- 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 4 limbs- full benefits
• Loss of 3 limbs-3/4 of benefits
• Loss of 2 limbs- 2/3 of benefits
• Loss of 1 limb- 1/2 of benefits

10
Life Insurance

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

11
Health Insurance

• Managed Care Plans
• 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

12
HMO, PPO, POS

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

13
Medicare/Medicaid

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

14
Paper

• MUST BE ONE PAGE LONG.
• I MUST BE ABLE TO READ IT WITHOUT ANY DIFFICULTY.
• DO NOT LEAVE A SPACE BETWEEN PARAGRAPHS.
• DO NOT WRITE USING OVERSIZED or BUBBLY LETTERS
  TO TAKE UP MORE SPACE!!!
• MUST BE HANDED IN TODAY.

15
Reaction

• How did watching this movie make you feel?
• What were some of the advantages people had
  living in France or England?
• 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.?