Sponsored by Welcome COUNTRY Financial

Sponsored   by Welcome COUNTRY Financial Sponsored   by Welcome COUNTRY Financial - Start

2018-09-18 6K 6 0 0

Sponsored by Welcome COUNTRY Financial - Description

®. proudly provides financial literacy education to your classroom.. Financial literacy is important, no matter how old you are . and . no . matter your . goals. Understanding . money allows you to make . ID: 669888 Download Presentation

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Sponsored by Welcome COUNTRY Financial




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Presentations text content in Sponsored by Welcome COUNTRY Financial

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Sponsored by

Welcome

COUNTRY Financial® proudly provides financial literacy education to your classroom.

Financial literacy is important, no matter how old you are and no matter your goals. Understanding money allows you to make more informed choices and to be better able to pursue your dreams. Congratulations on taking this first step in becoming more financially savvy.

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Financial FoundationsRisk ManagementA Financial Beginnings Financial Education Program

©

2015 Financial Beginnings

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Match the star with the body part and insured amount

Famous PersonBody PartAmount Insured

America FerraraLegs$27,000,000Gene Simmons

Taste Buds$1,000,000David BeckhamVoice$10,000,000Troy PolamaluSmile$1,600,000Bruce SpringsteenTeeth$30,000,000Angela MountHair$195,000,000Julia RobertsWhole

Body

$31,200,000

Daniel

Craig

Tongue

$9,500,000

Jennifer

Lopez

Behind

$1,000,000

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Answers

Famous PersonBody PartAmount Insured

America FerraraTeeth$10,000,000Gene Simmons

Tongue$1,000,000David BeckhamLegs$195,000,000Troy PolamaluHair$1,000,000Bruce SpringsteenVoice$31,200,000Angela MountTaste Buds$16,000,000Julia Roberts

Smile

$30,000,000

Daniel

Craig

Whole

Body

$9,500,000

Jennifer

Lopez

Behind

$27,000,000

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But we’re not stars! Don’t worry there are other policies you might interested in like….

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Why are we here today?We will:Understand what insurance is, why you need it and how it works.Learn what insurance premiums are and how they are determined.

Know what liability coverage is and how it applies to auto and renters/homeowners insurance policies.Be able to explain types of insurance and when they apply to real life.Understand insurance contracts and the major decisions that have to be made when purchasing policies.

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How do we manage risk?

What is risk?

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Calculating possible loss

Do I get health insurance?Worst case- Can’t determine amount

Do I get collision coverage on my car?Worst case- Value of the car

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But how likely is it?That you’ll die in aCar accident 1 in 84Plane crash 1 in 5,051Shark attack 1 in 60,453

Train crash 1 in 156,169

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Weighing the risk

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Some of the basics

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Auto Insurance

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Why do we need auto insurance?

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Even a minor accident can add up to a lot

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We are legally required to have it if we drive!

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Breakdown of an Auto Policy

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How do I get my car fixed?

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Not covered:

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What determines your premium?

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What to do if you get into an accident?Help injuredMove carGet contact informationTake picturesContact agent

Do not admit faultCall police if appropriateGet police reportFile a claim if neededKeep recordsGet treatment if neededFile with DMV

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Let’s put this into play

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How much money is everything in your room worth? See page 7 of the Resource Guide

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2 out of 3 renters do not have renters insuranceCosts about $10-15 a monthCovers:Personal property coverageLiability coverage

Additional living expensesOptional:Flood insurancePersonal articles floater

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How much will I get for my belongings?Actual Cash Value$50

Replacement Cost$1000

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How does the insurance company know I had the laptop?Take photosMake a videoList the brand, model number and serial numberStore proof in safe place

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Back to liabilityWhat if your dog bites the mailman?Or you burn down the kitchen?Or someone trips walking down your stairs?

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Why health insurance?

It is the lawMedical bills largest cause of bankruptcyNo cap to exposure

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Life insurance: Need it or not?

Need it!Probably notYou have children

Single- no kidsYou’re married and rely on incomeMarried and don’t rely on incomeYou own a business

Married but not employedYour estate is over tax thresholdYou’re retired

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How much life insurance?

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Disability coverageYou are more likely to file a claim with disability insurance while you are working than life insurance.

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Got it?Do you:Understand what insurance is, why you need it and how it works?Understand

what insurance premiums are and how they are determined?Know what liability coverage is and how it applies to auto and renters/homeowners insurance policies?Can you explain the different types of insurance and when they apply to real life?Understand insurance contracts and the major decisions that have to be made when purchasing policies?


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