Presentation on theme: "INSURANCE Introduction to Business and Technology Grimball."— Presentation transcript:
INSURANCE Introduction to Business and Technology Grimball
A way to counter act risk. – You Pay A Company Regulary – That Company Promises to Pay in Case Something Happens You get into a car accident You must go to the doctor A tree falls on your home You die WHAT IS IT?
There are many types of insurance. The Main Four Types Are: – Health Insurance – Car Insurance – Homeowners/Renters Insurance – Life Insurance WHAT ARE THE TYPES?
Protects You When You Have to go to the Doctor. – Dr. Bills are Expensive – Insurance Helps Pay so you Pay Less – Employer Provided or Bought Indvidually – Everyone Needs HEALTH INSURANCE
Protects You When You Get Into an Accident – Repairs and Medical Bills from Accidents are Expensive – Insurance Helps Pay so you Pay Less – Full Coverage Required for Financed Vehicles – Everyone Needs CAR INSURANCE
Protects You When Something Happens to Your Home – Repairs and Medical Bills from Accidents that happen at home are Expensive – Insurance Helps Pay so you Pay Less – Full Coverage Required for Financed Homes – Everyone Needs HOMEOWNERS/ RENTERS INSURANCE
Protects Your Family When you Pass Away – Funeral Costs are Expensive – Bills You Leave Behind Should Be Paid Off – You May Want to Provide for Your Children LIFE INSURANCE
Your Portion to Pay – Most Policies Have a Deductible – You are Responsible for Paying that Amount if Something Happens – Amount Varies Depending on Policy – All Types of Insurance Have Them DEDUCTIBLE
You have homeowners insurance. During a storm a tree falls on your house and damages the roof. You have a deductible of $ The quote from the repair people is You submit this to your insurance company. How much will YOU have to pay out of pocket to get the roof fixed? Answer: $ EXAMPLE