Health
What is coinsurance?
The % YOU pay after the deductible.
Who is covered with collision coverage and whos at fault?
YOUR car, YOU are at fault
The roof is damaged during a storm.
Homeowners insurance
What is a premium?
The amount paid each month for coverage.
What is the 20/30/50 breakdown in budgeting?
50% needs, 30% wants, 20% savings
What is an out-of-pocket maximum?
The max amount you pay until insurance pays the rest.
Non-crash damage
Your gaming system is stolen.
Renters
What is a deductible?
The amount YOU pay before insurance will help you pay.
Why do older people not invest in stocks?
Too risky, protects their money, potentially can't recover from a loss.
If Samantha went to the doctor for a checkup what would she pay?
What is a copay
Who is at fault for uninsured coverage?
NOT You
How much does homeowners insurance typically cost?
$200-$210 a month
How does risk affect insurance?
If you tend to be higher risk, an insurance company might not want to insure you due to a higher payout.
What % of americans have less than $1,000 in savings?
42%
what is IN NETWORK?
What is the difference between medical payments coverage and bodily injury coverage?
Medical Payments: You and your car
Bodily: Them and their car
What is the biggest difference between home vs. renters insurance.
Home- Property
Renters- Personal Belongings
What is 100/300/50?
What do local taxes pay for?
Pay for police, fire departments, parks, and snow removal.
Miranda has a $45,000 surgery. She has an out-of-pocket maximum of $6,000, a $1,000 deductible, and 10% coinsurance. How much does she have to pay?
What is $5,400
What insurance covers damage to another person’s vehicle or property caused by you.
Why is renters insurance cheaper than homeowners insurance?
More risk, bigger payments, bigger fixes
You want to be sure that you won't lose a lot of money if your store gets broken into and a lot of your goods are stolen. What insurance would protect you?
Business
What is the difference between checkings and savings account?
Easier access to money and also no interest.