INSURANCE

AUTO INSURANCE

• Auto insurance protects you against the financial loss that you can suffer if you're in an accident

AUTO INSURANCE PROVIDES YOU WITH

• Property Coverage- Covers damage to your car
• Liability coverage- pays for the bodily injury of others or property damage you cause
• Medical coverage- pays for the cost of treating your own and others injuries, lost wages, and funeral expenses

AUTO INSURANCE TEEN COVERAGE

• The younger you are the more expenses it will be for you to get auto insurance
• The older you are the less it will cost you to get auto insurance.

AUTO INSURANCE FACTS

• The nicer the car you have the more expensive it'll be for auto insurance
• Some types of insurance is required in most states most policies are six months to a year
• When you purchase a car some lenders will require you to purchase certain insurance with certain coverage

RENTERS INSURANCE

• This insurance repair or replaces damage or stolen goods

RENTERS INSURANCE (COVERAGE)

• Insurance covers items that have been lost damaged through theft, fire, and smoke, vandalism, lightening, and water damage.

RENTERS INSURANCE (NOT COVERED)

• Does not cover against earthquakes or floods, have to purchase this insurance separately.

WHY YOU NEED THIS

• If you have a temporary disaster such as; fire or severe storms
• They will pay some living expenses such as; hotel bills, temporary rentals, and meals

HOME OWNERS INSURANCE

• Provides you with financial protection

WHY YOU NEED IT

• Protects against fire storms or thefts

STANDARD POLICIES

• Covers the home, itself, and the possession inside
• This is similar to renters insurance covers property and legal responsibility

HOMEOWNER INSURANCE (DOESN'T COVER)

• Maintenance related problems, they are the homeowners responsibility
• Against flooded or earthquake, nor hurricanes if you live in a coastal area you would want to purchase these insurance

FACTS

• Your house will be one of the biggest investments, you will spend most time, raise your family, and make memories

HEALTH INSURANCE

• Brings down medical cost
• There are two basic types of health insurance
• Fee-for-service and managed care

FEE-FOR-SERVICE

• Insurance based on health professions receiving a fee for provided to the patient. You can see doctor of your choice and a claim is submitted to the insurance company by either the health-care provider or patient

MANAGED CARE

• Provides comprehensive health services and offers financial incentives, such as law co-pays to patients who use providers part of the plan. Variety of managed care plans such as hmos, ppos, pos plan

COVERAGE

• Most of these plans covers medicine prescription medicines, some offers dental and vision coverage

FACTS/WHY YOU NEED

• you can stay on your parents health plan until you are 26
• 6 in 10 young Americans will be eligible for coverage that cost less than $100 a month
• You are required to have health insurance

SHORT TERM LIFE INSURANCE

• Insurance designed for covering disability for a short period of time.
• Benefits begins sometime in the first 14 days of the disability and last no longer than two years

COVERAGE

• Short term disability covers:
• Lengthy illness
• Disabling injury
• Birth of child

LONG TERM DISABILITY

• Coverage designed for long periods of time.
• Benefits usually start several weeks or months after the disability and can last a few years or for the rest of your life.

COVERAGE

• Long term disability covers:
• Tissue disorder
• Cancer
• Cardiovascular/circulatory disorder
• Mental disorder

FACTS

• Average worker has a 30% chance of becoming disabled
• 47% of employers offer disability insurance (of ng term)

WHY YOU NEED

• You protect yourself and family financially
• Don't have to worry about hefty hospital bills. May have to pay small amount

LIFE INSURANCE

• Insurance that pays out a sum of money either on the death of the insured person or after a set period

WHY YOU NEED

• You can protect your family's finances in the event you die with life insurance
• Can be debt free

FACTS

• 65% American say they need life insurance
• 37% of single moms have life insurance
• Average for adults is $167,000
• 31% say within a month they'd feel the financial impact of death of primary wage earner

LIFE INSURANCE TYPES

• Term- term life insurance pays a benefit if you die during the term of the policy, usually between 1 and 30 years
• Whole life- whole life insurance also known as permanent life insurance, pays a benefit whenever you die, no matter your age

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