Types_of_Insurance_Note_Taking_Guide_2.6.5.L1.pdf - Page | 12 2.6.5.L1 Types of Insurance Note Taking Guide Total Points Earned Total Points Possible

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Unformatted text preview: Page | 12 2.6.5.L1 Types of Insurance Note Taking Guide Total Points Earned Total Points Possible Percentage Name Date Class Directions: Use the prompts provided to take notes during the lesson. What is emergency savings? What is risk? What is insurance? Risk is managed by using… THE INSURANCE PROCESS What is an insurance policy? What is coverage? Who is a policyholder? What is a premium? What is one benefit of insurance? © Take Charge Today – August 2013 – Types of Insurance Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Page | 13 2.6.5.L1 Once an insurance policy is in place, a claim can be made if an accident occurs. What is a claim? What is a deductible? What is co‐insurance? Why do insurance policies include deductibles and co‐insurance? SOURCES OF INSURANCE Insurance can be provided to an individual from any of these three sources: 1. Individual 2. Employer 3. Government Employer provided insurance is an employee benefit. What is an employee benefit? What are government programs designed to do? Employee benefits are a form of in‐kind income. What is in‐kind income? © Take Charge Today – August 2013 – Types of Insurance Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Page | 14 2.6.5.L1 TYPES OF INSURANCE Complete the table below by filling in the blank information: Type of Insurance Health Provided by individual, employer and/or government? Definition Additional Information and Definitions Disability Payment to replace earnings during times when workers cannot work due to illness or injury May cover doctors’ visits, hospital bills, vision care, dental care, etc. If dollars are limited, health insurance is extremely important Long‐term care Individual Property Individual Liability Employers and/or individuals Life Pays for injuries or losses to other people May include automobile, homeowners, and renters © Take Charge Today – August 2013 – Types of Insurance Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona ...
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