Insurance 101
What is the purpose of insurance?
What is to reduce financial risks and make accidents more manageable
What is auto insurance?
Contract between you and the insurance that protects you against financial loss in the event of an accident or theft of a vehicle.
What is life insurance?
Provides a cash sum to your loved ones that die during the length of the policy
Name all the tutors still in school rn
Isaiah
Katy
Catherine
What is an Insurance Premium?
The amount of money an individual or business pays for an insurance policy
Factors that affect the monthly rate of auto insurance?
Good job! I agree with that!
What are some benefits of having life insurances?
Income replacement for years of lost salary
Paying off your home mortgage
Paying off any debts
Providing funds for your kids' college education
Rank all the tutors from least happy to most happy (what you think)
What is a deductible?
The amount you pay before your insurance begins to pay.
Higher: Boy & Younger
Why is it called Term life insurance?
Because it only provides for a set period, 10,20 or 30 years.
If you die during the term, your beneficiaries can receive the death benefit. But if you outlive the term, the insurance ends.
What is the thing that Natalia and Katy do when they have people name where their outfits are from/brand
Fit Check
What determines your insurance premium or deductible?
The higher a plan's deductible, the lower the premium, vice versa.
Also depends on demographic such as age, gender, location...
Name at least 3 types of car insurance? (ex: uninsured motorist protection; you can't use this)
Liability insurance, collision coverage, comprehensive coverage, personal injury protection, uninsured/ underinsured motorist protection.
What things should you know before getting life insurance?
What is insurance needs, how much coverage you need, your current life insurance policy, compare the different kinds of insurance policies, be sure you can afford the premium payments, and etc.
What is the pfp of the new ubw discord page?
It doesn't exist
What factors affect your monthly auto insurance rate?
Your car, your driving habits, demographic factors and the coverages, limits and deductibles you choose.
Why do you need car insurance?
Helps protect individuals involved in accidents that are NOT AT FAULT. Car insurance is a requirement in every state in the United States.
True or false: All benefit amount from life insurance have to be taxed.
False, life insurance isn't inclusive in gross income and you don't have to report them.
However, any interest you receive is a taxable and you should report it as interest received.
Name a two tutors that drink
Katy fs.
Natalia? im prettyyyy sure