Transcript Insurance

Insurance
Auto, Health and Life
Insurance
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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?
Insurance
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Risk protection
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helps pay for damages , injury, law suits
helps protect your money
Auto Insurance Terms
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*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)
Auto Insurance Terms
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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
Money Savers
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Good student discounts
Clean driving record
Non-smoker
Life Insurance
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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
Life Insurance
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Permanent- costs more
Term
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lasts for a specific amount of time; gets more
expensive with age
may not get this after the age of 65
Policy Limits
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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
Life Insurance
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Loss of life covered unless…
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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
Health Insurance
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Managed Care Plans
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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
HMO, PPO, POS
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HMO- (Health Maintenance
Organization), PPO (preferred
provider organization, POS (point
of service)
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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.
Medicare/Medicaid
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Medicare- receive insurance coverage at
the age of 67 or older or if you are on
disability
Medicaid- for low income families
Paper
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MUST BE ONE PAGE LONG.
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I MUST BE ABLE TO READ IT WITHOUT ANY DIFFICULTY.
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DO NOT LEAVE A SPACE BETWEEN PARAGRAPHS.
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DO NOT WRITE USING OVERSIZED or BUBBLY LETTERS
TO TAKE UP MORE SPACE!!!
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MUST BE HANDED IN TODAY.
Reaction…
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How did watching this movie make you feel?
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What were some of the advantages people had
living in France or England?
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Do you have any personal experiences with Health
insurance?
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Do you think this film is a fair or accurate
representation of the Health care industry in U.S.?