Insurance 101
A legal contract between insurance company and policyholder
What is an Insurance Policy?
A 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 an Insurance Premium?
A contract with an insurance company that pays a lump sum to beneficiaries when the policyholder passes away.
What is Life Insurance?
What is a Copayment?
A fixed amount you are required to pay for each medical visit
What is the name of the non profit organization that funds Upward Bound Westminster
VOALA- Volunteers of America Los Angeles
The amount of money an individual or business pays for an insurance policy
What is an Insurance Premium?
Repairs for any damage you cause to your car, whether you hit another car or an object
What is Collision Coverage?
Financial Protection, Debt Coverage, Future Security, and Funeral Expenses
What is the Purpose of Life Insurance?
When your insurer begins to cover all medical expenses for the rest of the year
What is When Your Out of Pocket Maximum has Been Reached?
What are Isaiah's and Katy's zodiac sign?
Trick Question: We're both Aries
The amount you pay out of pocket before your insurance begins to pay.
What is a Deductible?
An estimate of how much your premium will be with given factors of car type, VIN, driver history, mileages, and even credit score
What is an Auto Insurance Quote?
What are the two types of Life Insurance?
Term Life and Whole Life
A health insurance plane with premiums>HMO, a wider network with access to out of network providers, no need for referrals
What is a High Deductible Health Plan (HDHP)?
Finish the Line:
Have you ever had a Krispy Kreme?-- Have you ever gone to Krispy Kreme?...
A: Was it crispy?... Right, Right
Avoid it, Reduce It, Accept It, and Share It
What are the 4 Ways to Manage Risk
Repairs and medical bills from damage you caused to other people's property and their bodies (required in all states); also pays the legal bills if someone tries to sue you
What is Liability Insurance?
True or False:
1) Each beneficiary needs to file a separate claim
2) Age is not a factor in your life insurance premium cost
1) T
2) F
My deductible is $3,200, but I have already paid $1,750 in medical expenses this year. If I need to get LASIK eye surgery and it cost $5,000 for the operation, how much will I have to pay until my health insurance kicks in and covers part of my expenses?
$1,450 out of pocket
Who Said This?:
"STOPPP ITTT!... I HAVE NEVER IN MY LIFE YELLED AT A GIRL LIKE THIS..."
A: Tyra Banks
What does INSURE-able stand for?
Insurable interest, Numerous, Specific loss, Unintentional and Unexpected, Reasonable cost, Estimable
Remain calm, Seek medical attention. File police report, Contact insurance agent, Share contact and insurance information, Document details; take photos, Keep records for future reference
What is What To Do In a Car Accident?
What do you need to file a claim on a life insurance policy
Policyholder's death certificate, SSN, and policy number
How much do you pay if you have:
A $67 Copay
A $2000 test. 40% Coinsurance
A $1000 test. A $50 Copay. 30% Coinsurance
1. $67
2. $800
3. $350
FINAL JEAPORDY ?
Don't Break the Chain: Movie Edition