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Don’t Take the Risk

Copyright © Texas Education Agency, 2014. All rights reserved.

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Slide 1

Auto, Homeowners,

Medical and Life

Insurance

Dollars and Sense

Insurance, insurance, insurance! What different types of insurance are available? Note to teacher: This slide presentation is divided into four segments:

• Auto insurance

• Homeowners insurance

• Medical insurance

• Life insurance

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Copyright

Copyright © Texas Education Agency, 2014. All rights reserved. Copyright © Texas Education Agency, 2014. These Materials are copyrighted © and trademarked ™ as the property of the Texas Education Agency (TEA) and may not be reproduced without the express written permission of TEA, except under the following conditions:

1) Texas public school districts, charter schools, and Education Service Centers may reproduce and use copies of the Materials and Related Materials for the districts’ and schools’ educational use without obtaining permission from TEA.

2) Residents of the state of Texas may reproduce and use copies of the Materials and Related Materials for individual personal use only, without obtaining written permission of TEA.

3) Any portion reproduced must be reproduced in its entirety and remain unedited, unaltered and unchanged in any way.

4) No monetary charge can be made for the reproduced materials or any document containing them; however, a reasonable charge to cover only the cost of reproduction and distribution may be charged.

Private entities or persons located in Texas that are not Texas public school districts, Texas Education Service Centers, or Texas charter schools or any entity, whether public or private, educational or non-educational, located outside the state of Texas MUST obtain written approval from TEA and will be required to enter into a license agreement that may involve the payment of a licensing fee or a royalty.

For information contact: Office of Copyrights, Trademarks, License Agreements, and Royalties, Texas Education Agency, 1701 N. Congress Ave., Austin, TX 78701-1494; phone 512-463-7004; email: copyrights@tea.state.tx.us

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Slide 3

What is Insurance?

Copyright © Texas Education Agency, 2014. All rights reserved. 3

Car wrecks, stolen cars, house fires, major illness, injuries and other unexpected events can disrupt the most carefully made financial plans. Insurance is a way of managing the possible loss from an unfortunate event. A consumer can purchase insurance which will protect him or her financially in case of an unexpected, expensive event. Insurance is purchased protection that guarantees the consumer a financial payback when a loss occurs.

An insurance company is a business that offers this service. Consumers (policyholders) pay into a common fund, and if any of the policyholders suffer a loss, the insurance company will

reimburse them. This is profitable for the insurance company because not everyone will suffer a loss. The insurance company is betting that more people will pay in than suffer a loss. The insurance company keeps the extra money as profit and invests the money until it is needed to pay for losses. The insurance company will make more money in the form of interest from the investments.

What are some other types of insurance available? There are different types of insurance. Recreational vehicle (RV) or boat insurance are examples of insurance that someone might purchase. Some people purchase pet insurance for the health or life of their pet. A doctor purchases malpractice insurance. A traveler might purchase travel insurance, and an engaged couple might purchase wedding insurance. In these lessons, we are going to focus on the most common types of insurance that meet most people’s needs: auto, homeowners, medical and life.

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Slide 4

Terms to Know

Appraisal

Asset

Beneficiary

Cash value

Co-pay

Death benefit

Deductible

Estate

Face amount

Group insurance

Open-enrollment period

Premium

Supplemental insurance

Copyright © Texas Education Agency, 2014. All rights reserved. 4

Here are some terms that are frequently used; you should understand what they mean.

If the terms are challenging for your students, you may select to have them create a Personal Word Wall. See:

http://cte.sfasu.edu/wp-content/uploads/2013/01/Personal-Word-Wall1.pdf or utilize the Four Corners Vocabulary / Word Wall Activity http://cte.sfasu.edu/wp-

content/uploads/2012/02/Four-Corner-Vocabulary2.pdf Additional insurance terms can be found at:

Glossary of Common Insurance Terms

http://www.tdi.texas.gov/consumer/glossary.html

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Slide 5

Why is Insurance Needed?

Copyright © Texas Education Agency, 2014. All rights reserved. 5

There are many reasons to purchase insurance:

• Accident

• Death

• Elderly

• Fire

• Flood

• Hail

• Liability

• Lightning

• Sickness

• Theft

• Unemployment

• Uninsured motorist

• Vandalism

• Wind

What kind of insurance does your family have?

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Auto Insurance

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Have you ever had an auto accident?

If so, did you file an auto insurance claim? Were you liable? What does it mean to be liable?

All 50 states have financial responsibility laws that require drivers to show proof of their ability to pay stated minimum amounts in damages after an accident.

Most states also have compulsory auto insurance laws that require car owners to buy a minimum amount of bodily injury and property damage liability insurance in order to legally drive their cars.

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Slide 7

Auto Insurance

Types of Insurance Available

Collision Coverage

Comprehensive Coverage

Liability Coverage

Medical Payments Coverage

Personal Injury Protection

Rental Reimbursement Coverage

Towing and Labor Coverage

Uninsured Motorist

Copyright © Texas Education Agency, 2014. All rights reserved. 7

Wow! Did you know there were so many types of auto insurance available? Many people do not take the time to understand what all is involved. They rely on an insurance agent, friend or co-worker to give them advice. This method is fine for you if this person is trustworthy and truly understands your needs. Only you truly know what you need, and it is best for you to

understand what is offered. You need to understand what you are buying so you don’t pay too much but still have the coverage you need. For example, if you are a member of an auto club such as American Automobile Association (AAA) that offers towing, and then you purchase towing as part of your auto insurance package, you might be spending money for something you already have. Let’s take a look at these individually so you can be an informed consumer.

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What Does Collision

Coverage Pay?

Pays the cost of repairing or replacing your car after an accident regardless of who was driving or who was at fault

Payment is limited to cash value of car minus your deductible

Copyright © Texas Education Agency, 2014. All rights reserved. 8

Collision pays the cost of repairing or replacing your car regardless of who is driving or whose fault the accident is. When an accident causes extensive or costly damage to your vehicle, it's possible your insurance company will declare it a total loss. If the car is totaled, the value of your car is determined by an insurance adjuster. You receive a monetary check for the value of your car minus your deductible. If your car is repairable, your insurance pays the costs of the repair minus your deductible. Your deductible is an agreed amount of risk that you are willing to take. The higher your deductible, the lower your premium. For instance if your deductible is

$1,000.00, your premium will be lower than if your deductible is $500.00.

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Slide 9

What does Comprehensive

Insurance Pay?

It pays damage to a car caused by fire,

vandalism, hail or other events besides

collision.

Copyright © Texas Education Agency, 2014. All rights reserved. 9

Comprehensive insurance pays for damage caused by fire, vandalism, hail or other events besides collision.

How would an individual or family determine which types of auto insurance to carry?

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What Does Liability Pay?

Texas law requires 30/60/25

Liability protects you from lawsuits and pays other people’s expenses caused by accidents.

Medical / funeral

Car repair or replacement

Rental car during repair

Punitive damages

Attorney fees

Copyright © Texas Education Agency, 2014. All rights reserved. 10

The state requires you to have liability insurance, so you might think, “That is a no-brainer. I have to have it.” Liability protects you from lawsuits and pays other people’s expenses caused by accidents such as:

• Medical / funeral

• Car repair or replacement

• Rental car during repair

• Punitive damages

• Attorney fees

Texas law requires each motorist to purchase a policy that includes 30/60/25, but what does that mean? It means that if you are in an accident, your insurance will cover $30,000 in medical expenses for each injured person totaling $60,000 and up to $25,000 for property damage. With the high cost of medical expenses, you could be sued for expenses not covered by your insurance. For example, let’s say you have the state minimum insurance and you are in an accident with four people whose medical expenses total $100,000. Your insurance would pay

$60,000, but you could be sued for the $40,000 that your insurance does not cover. In addition, let’s say the other party is driving a $50,000 car. You are only insured for $25,000 for property damage, so your insurance company will only pay $25,000. In addition to the $40,000 they can sue for medical, they can also sue for the $25,000 your insurance does not pay for property damage. That is a total of $65,000. Can you afford to take that chance? Most likely not! That is why most people want to purchase more than the minimum amount. In addition to medical and property damage, liability pays for a rental car for a limited time for the damaged party, punitive damage (which means pain and suffering) and attorney fees.

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Slide 11

What Does Personal Injury

Protection (PIP) Cover?

Medical payments or funeral expenses for you, your family members and passengers in the car

80% of lost income and cost of hiring a caregiver

Copyright © Texas Education Agency, 2014. All rights reserved. 11

Personal injury protection pays for medical bills caused by an accident for you, your family or any passenger in your car. It can cover 80% of lost income and the cost of hiring a caregiver.

$25,000 in personal injury protection is standard, but you can purchase more. With high medical costs, you can see that unless you have purchased more than the standard personal injury protection, this really just supplements your regular medical insurance.

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Rental Reimbursement and

Towing and Labor Coverage

Rental reimbursement pays a set amount for a rental car while your cr is repaired or for a specific time if it is stolen.

Copyright © Texas Education Agency, 2014. All rights reserved. 12

Rental reimbursement pays a set amount for a rental car for a limited time while your car is being repaired. If your car is stolen, it covers a rental car for a specified period of time while the case is being investigated. This allows time for your car to be recovered or replaced. Towing covers towing charges if your car breaks down or is in an accident and cannot be driven. If you belong to a travel club that covers towing, you may not want the added expense of towing on your insurance.

Do you have towing and labor coverage?

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Slide 13

What Does Uninsured

Motorist Pay?

Bodily injury

Property damage

Covers you, your family members and

passengers in your car, as well as others driving your car with permission

Copyright © Texas Education Agency, 2014. All rights reserved. 13

What does uninsured motorist pay? It pays expenses resulting from an accident caused by an uninsured or under-insured motorist up to the limits of your policy. Since the law requires insurance, everyone should be insured, but that is not always the case. We talked about how Texas requires 30/60/25. Let’s say you have a luxury car worth $60,000 and you are hit by someone with minimum liability insurance and your car is totaled. Their insurance will only cover $25,000. That means that you are out of pocket $35,000. Yes, you can sue for the

$35,000, but if the person does not have that kind of money, it may take years to recover it from them. Uninsured motorist also covers bodily injury to you and your family as well as passengers in your car. It is a good idea to have some coverage for uninsured motorist.

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Factors That Affect Auto

Insurance Rates

Type and level of coverage needed

Age and driving experience

Gender

Model of the car

Where you live

Vehicle use

Driving record, grades and insurance history

Copyright © Texas Education Agency, 2014. All rights reserved. 14

Driver classification is determined by the age, sex and marital status of the driver. Driving record and habits are also considered.

There are several factors that affect your auto insurance rates. We have discussed reasons for purchasing extra insurance. The law requires liability. If you are making payments on your car, the lender is going to require collision and comprehensive, because if an accident or disaster happens, they want the payment of the car to be covered. Your age, driving experience and gender affects your rates. Life is not fair. If you are male, your insurance rates will be higher because statistics show that males are more likely to take risks and have more accidents. Where you live affects your rates. More accidents happen in large cities where there is more traffic, so you will pay more for insurance if you live in one of these cities. If you use your vehicle for work and drive a lot, your insurance rates will be higher than someone who simply drives to and from work. If you have a good driving record (no tickets), good grades (if you are a student) and have not had any insurance claims, your insurance premiums will be lower.

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Slide 15

Ways to Lower Your Premium

Bundle auto and homeowners policies with the same company

Buy a vehicle that is not a target for theft

Ask for a higher deductible

Decrease your liability coverage

Have features such as airbags, anti-lock brakes and anti- theft devices

Place teens as occasional drivers on your least expensive car

Copyright © Texas Education Agency, 2014. All rights reserved. 15

The following is a list of ways you can lower your premium. Most of these are good ways to lower your premium, but think hard before decreasing your liability coverage to the state minimum. As we have already discussed, liability might not be enough, and you really do not want to open yourself up to lawsuits.

Other ways to lower your premium:

• Having a safe driving record

• Being a non-smoker

• Installing anti-theft devices and air bags

• Being over a certain age

• Having two or more cars on a policy

• Having a positive credit report

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Homeowners Insurance

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What is homeowners insurance?

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Slide 17

Homeowners Insurance

Homeowners insurance - covers the home and the contents of the home

Property coverage

Liability coverage

Appraisal

Renters insurance

Copyright © Texas Education Agency, 2014. All rights reserved. 17

If you have a mortgage on a house, you are required to have homeowners insurance because if a disaster happens, your lender wants to get the money that you owe on the property.

Homeowners insurance also covers the contents of the home up to an amount specified in the policy, so the contents of the home are also insured.

Property coverage insures you against damage to or loss of dwelling and personal property and possessions such as clothes and furnishings. It may also pay should you need to find an

alternate housing choice due to damage to the property.

Liability coverage protects you if others are injured on your property. Why is this coverage so important?

What is an appraisal? Your insurance agent may be able to help you calculate building costs, or you may need an appraisal. An appraisal is an estimate of the current value of property.

What is renters insurance? Many renters do not purchase insurance and take the risk because no one is requiring them to purchase insurance. If you are a renter, you need to think about the value of the contents of your home. If a burglar broke in and stole all your electronics, would you have the money to replace them? If a fire broke out in your apartment building and you lost all the contents of your apartment, how easily could you replace everything? If you left an expensive camera in your car and someone stole it, your auto insurance would not cover it, but your renters or homeowners insurance would. Some young people may not have much of value

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It is a good idea to have photos, model and serial numbers of valuable items. Store this

documentation of your valuables in a fireproof safe or a safe deposit box in a bank. You can do this by taking digital pictures of your possessions and storing them on a CD. If you ever have to make a claim, these pictures might be a valuable asset in working with an insurance adjuster.

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Slide 18

Factors That Affect the Cost of Home Insurance

Type and amount of coverage

Size of the deductible

Risk factor where you live

The insurance company

Opportunity for discounts

Copyright © Texas Education Agency, 2014. All rights reserved. 18

Factors That Affect the Cost of Home Insurance:

• Type and amount of coverage – The higher the amount of protection purchased, the higher the premium will be.

• Size of the deductible – The higher the deductible is, the lower the insurance premium will be.

• Risk factors where you live – The type of home you live in and the location influences the premium rates you will pay. Will you pay more for a frame house or a brick house?

• The insurance company – Be an informed consumer and compare the rates between many insurance companies. The premiums vary from company to company.

• Opportunity for discounts – Ask your insurance agent what kind of discounts are available. If you combine your auto and home insurance, you might qualify for a discount. Check if discounts are available for installing devices such as a smoke detector or burglar alarm, for non-smoking policyholders or for long-term policyholders.

Teacher note: Stop the slide presentation and proceed with the Guided Practice Activity One.

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Slide 19

Medical Insurance

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Why do you need medical insurance?

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Slide 20

The Importance of Medical Insurance

Medical insurance provides payment to cover financial loss as a result of illness or injury.

Medical care is expensive, so adequate health insurance is an important component of your financial plan.

Copyright © Texas Education Agency, 2014. All rights reserved. 21

Insurance is a way to protect your assets. You do not want to lose all the money you have saved because of large medical bills. When you purchase insurance, you are choosing to share that risk with your insurance provider. Without insurance, your net worth can quickly be eliminated with one major health problem.

Your health is an important factor in the quality of life you enjoy. Having insurance to share in your medical expenses allows you to seek the medical attention you need, when you need it, without concerns of cost.

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Sources of Medical Insurance

Two Government Programs

Medicare for individuals over 65 years of age or disabled individuals who qualify for social security

Medicaid-for low-income individuals that covers blind, disabled and needy families with dependent children

Employer-provided insurance where there is a group plan and the employer covers some or most of the cost

Private insurance where a person purchases health insurance through a private company

Copyright © Texas Education Agency, 2014. All rights reserved.

There are many sources of health insurance. There are two government programs that provide insurance. Medicare provides insurance for people 65 years of age and older. Medicaid insurance covers low-income individuals, blind, disabled and needy families with dependent children.

Many employers provide insurance through a group plan where the employer picks up some or most of the cost. This can be a great benefit to consider when seeking

employment.

Private insurance is where a person purchases health insurance through a private company. Many entrepreneurs do this so they can have insurance. These policies tend to be expensive.

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Slide 22

Indemnity Plans versus Managed Care

Indemnity plans allow participants to seek health care from any qualified medical provider

Managed care plans limit participants to a specific list of

providers

Copyright © Texas Education Agency, 2014. All rights reserved. 22

There are two types of insurance that people can choose from: indemnity plans and managed health care. With an indemnity plan, participants may see any qualified health care provider they choose. The disadvantage is that these plans do not pay as well and co-pays may be greater. The bottom line is it will most likely cost you more money.

With a managed health care plan, you are limited to choosing a doctor from a specific list of providers. This gives you less flexibility in choosing your health care providers. The advantage is these plans can be very affordable and usually have much lower co-pays.

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Family Coverage

The person who buys the policy or subscribes to it through an employer is known as the

policyholder.

Children become ineligible when they reach a certain age.

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Family Coverage provides insurance for the family. The employee is the policyholder and the policy covers the immediate family including the spouse and the children until they reach a certain age. Under the Affordable Care Act, you can now be insured as a dependent on your parent’s health insurance if you’re under age 26. You can learn more about insurance for young adults by reading “Improving Health Insurance Protections for Students” at

https://www.cms.gov/CCIIO/Resources/Fact-Sheets-and-FAQs/students02092011a.html

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Slide 24

Group Plans

Group plans cover a large group of individuals, such as all the employees of a particular company or local government.

Within a group,

individuals’risk is spread across the entire pool of members.

Copyright © Texas Education Agency, 2014. All rights reserved. 24

Group plans cover a large number of individuals. Many people in a large company may have a group plan. Often the employer pays a portion of the plan for its employees. Since there are many people in the plan, some will have very few medical expenses while others have greater medical needs. The risk is spread across the pool of members so a high-risk member has equal access to health care that a low-risk member does.

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Location Restrictions

Some insurance companies will only provide medical care in the United States.

You may want to purchase travel insurance if you travel outside the United States.

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Many insurance companies have restrictions that will only provide for insurance in the United States. When traveling outside the United States, it is a good idea to purchase travel insurance. Travel insurance will not only cover the cost of medical expenses but will also cover things like emergency travel to get you home. It also covers your expenses after you get home for a year.

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Slide 26

Pre-existing Conditions

Insurance policies may exclude coverage for pre- existing conditions or health conditions that existed before the policy was granted.

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If a person has a pre-existing condition, it is always a good idea for him or her to ask and make sure that condition will be covered under a new insurance policy.

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Deductibles

Many policies limit the total amount they will pay for some procedures

Some companies cover only certain drugs or provide partial payment for unapproved drugs

Many policies have a co-pay, where the policyholder pays a set amount for a doctor visit or emergency room visit

Copyright © Texas Education Agency, 2014. All rights reserved. 27

It is a good idea to know what kind of deductibles are required of you. Most policies have a co- pay where you pay a specific amount when you go to the doctor (usually $10.00 for a doctor visit). That co-pay may be much greater if you go to the emergency room. Some companies will only cover generic drugs. It is always a good idea to be wise about what your policy covers.

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Slide 28

Provider Networks

Two most common networks

Health Maintenance Organizations (HMO’s)

Preferred Provider Organizations (PPO’s)

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Both HMO’s and PPO’s provide a list of providers. HMO’s usually provide a more limited list.

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The two most common networks are Health Maintenance Organization (HMO) and Preferred Provider Organization (PPO). They both work in a similar way. They are both managed care policies which means you select a health care provider from a network. The PPO usually provides a larger list of providers to choose from. These managed health care networks are more affordable than indemnity plans and usually have lower co-pays.

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Comparison of Insurance Plans

Type of Health Plan Premium Selection of Physician

Indemnity Plan High Flexibility to select a physician or specialist

Managed Care HMO

Relatively low Primary care physician refers the patient to specialist

Managed Care PPO

Low, but usually higher than HMO

Greater number of physicians to choose from with PPO’s than HMO’s

Copyright © Texas Education Agency, 2014. All rights reserved. 29

Here is a chart that compares indemnity plans to HMO’s and PPO’s. You will see that an

indemnity plan is going to cost you the most in premiums. Why would an individual choose this type of plan? The reason a person would choose this plan is because they desire the flexibility to select any physician or specialist. The PPO will have the next lowest premiums which are a great deal lower than the indemnity plan. Individuals with PPO's choose a physician from a select list. The HMO has the lowest premiums and the most limited list of health care providers.

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Slide 30

When You Leave a Job

Consolidated Omnibus Budget Reconciliation Act (COBRA) allows you to continue health insurance coverage for up to 18 months after your employment ends.

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The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances such as

voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce and other life events. Qualified individuals may be required to pay the entire premium for coverage up to 102 percent of the cost to the plan.

COBRA generally requires that group health plans sponsored by employers with 20 or more employees in the prior year offer employees and their families the opportunity for a temporary extension of health coverage (called continuation coverage) in certain instances where coverage under the plan would otherwise end. COBRA outlines how employees and family members may elect continuation coverage. You will be responsible for paying the premiums your former employer was paying.

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Disability Insurance

The ability to earn a living is one of your most valuable assets. Disability insurance covers your wages if you are in an accident or too ill to work for an extended period of time.

Copyright © Texas Education Agency, 2014. All rights reserved. 31

Disability insurance protects your income if you cannot work for an extended period of time due to illness or injury. It is usually purchased to cover a percentage of your income up to 80%. The larger the percentage of your income it covers, the higher the cost of the insurance. The cost of disability insurance is pretty high so many people choose not to purchase it. Before you make the choice not to buy disability insurance, you need to answer the following questions:

• Does my family depend solely on my income for support?

• How much sick leave and vacation does my employer offer for such emergencies?

• How much do I have in savings to cover an emergency if I could not work and how long could I survive on those savings?

• How much could we cut our current expenses if we really needed to?

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Slide 32

Life Insurance

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What is life insurance?

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Life Insurance

Life insurance provides payment to a specific person when the policyholder dies. This person is known as the beneficiary.

Whole life insurance can build up savings for the policyholder over time and the policyholder may borrow from the “cash value” of the policy

Term insurance provides insurance over a specified period of time.

Universal life insurance is a combination of term and whole life, giving the policy more flexibility.

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Life insurance provides payment to the loved ones of the policyholder when he or she dies. These people are known as beneficiaries. Life insurance is important when you have

dependents who rely on you for income or care. A stay-at-home mom with young children may not have income to replace if she dies. However, if someone had to be hired to care for the children and the home in her place, it would be quite costly, so she should have life insurance. There are different types of life insurance.

A whole life policy builds up a “cash value” that you can borrow from. This policy is more costly. The advantage is that you can build up savings for the policyholder over time.

A term insurance provides insurance over a specified period of time. You never get anything from your investment except the peace of knowing your loved ones will be provided for if you die. Upon your death, your beneficiary receives money. The advantage of this type of policy is that it is low cost if you are young. It is a good deal for a young families who want peace of mind knowing their loved ones will be provided for in the event of death, but do not have a lot of money to spend. The disadvantage of term life is that often the premiums increase as your age increases.

A universal life policy is a combination of term and whole life, giving the policy more flexibility.

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Slide 34

Term Life Insurance

Provides protection only for a specific period of time

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Term life insurance provides protection only for a specific period of time. It may be one, five, ten or twenty years or until a specific age. When the term ends, so does the protection. The

advantage to this type of insurance is it offers the most protection for the consumer's money. This coverage benefits individuals who really need insurance and cannot afford high premiums. Term life insurance may be the best choice for them.

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Whole Life Insurance

Provides basic lifetime protection so long as premiums are paid

Copyright © Texas Education Agency, 2014. All rights reserved. 35

Whole life insurance is also called straight life insurance. The face amount is paid to the beneficiaries upon the death of the insured. The coverage builds cash value over the years. What is cash value? Cash value is the amount of money a policyholder would receive if the policy were surrendered before death or maturity. An advantage to whole life insurance is an individual may borrow against the cash value of the whole life insurance at a low interest rate. You must repay the amount you borrow to avoid a reduction of benefits.

Teacher note: You may have the students research the new types of whole life insurance: variable life, adjustable life and universal life. After the completion of the slide presentation, proceed with the Guided Practice Activity Two.

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Slide 36

Questions?

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References and Resources

Images:

Microsoft Clip Art: Used with permission from Microsoft.

Textbooks:

Ross Lowe, 2006. Consumer education & economics, student edition. 6 Edition. Glencoe/McGraw-Hill Madura, Jeff, Mike Casey, and Sherry J. Roberts. Personal financial literacy. Boston: Pearson, 2010. 23-29. Print.

Websites:

All Insurance Information Organization. Great site for general insurance information. http://allinsuranceinfo.org/

Federal Trade Commission

Filing for Bankruptcy: What you should know.

http://www.consumer.ftc.gov/articles/0224-filing-bankruptcy-what-know

Insurance 411 Organization

Web tool to make a credit card size insurance information card to carry in your wallet. http://insurance-411.org/

Copyright © Texas Education Agency, 2014. All rights reserved. 37

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Slide 38

References and Resources

Money Matters

Financial Education Curriculum produced by First Command Educational Foundation, 2010. http://www.fcef.com

NEFE High School Financial Planning Program National Endowment for Financial Education. http://www.hsfpp.org/

Privacy Rights Clearing House Information on record Keeping.

https://www.privacyrights.org/fs12a-personal-data-retention-and-destruction-plan#whykeep

Record Keeping and Personal Care Guide Create personal records for the family. http://ddc.ohio.gov/Pub/RecordGuide.pdf

Texas Department of Insurance

Consumer information guide for purchasing insurance. http://www.tdi.texas.gov/pubs/consumer/cb088.html

Texas Financial Responsibility Report Information on Texas law concerning auto insurance. http://www.tdi.texas.gov/pubs/consumer/cb088.html

United States Courts Information on Bankruptcy.

http://www.uscourts.gov/FederalCourts/Bankruptcy/BankruptcyBasics.aspx

Copyright © Texas Education Agency, 2014. All rights reserved. 38

References

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