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Transcript of Insurance
Do you strongly agree, agree, strongly disagree or disagree
with the following statements?
0 If people are careful, the may avoid ALL economic risks
There is no point to saving money for
retirement since social security benefits will
provide all you need to live on
Premium
0Cost you actually pay to be insured0Can be paid monthly, quarterly, semi-annually, or
annually
Deductible
0Amount of a claim or service you are required to pay out of your pocket
0 Insurance pays the rest
Insurance policy
0Written contract dealing what an insurance company covers, how much it will pay, and how much you will pay
Create a skit
0The skit should revolve around a scenario where something bad happened and you need insurance to cover
0 *Use at least 3 of the vocabulary words that we just covered*
0 Insurance0Premium0Deductible0 Insurance policy0Coverage limit
Pick a partner at your table
0Number a scratch sheet of paper 1-70Toss a coin, record if it is heads of tail
0 Put a H if it is heads and a T if it is tails
Risk Management
0Property risks0Loss or harm to personal or real property. 0To protect such losses we purchase:
PropertyInsurance
0Liability risks0 Loss that may occur when your inappropriate actions
result in injury to someone else or damage to someone else’s property.
0 To protect such losses we purchase:
liability insurance