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 $500.00. The quote from the repair people is 5000.00. You submit this to your insurance company. How much will YOU have to pay out of pocket to get the roof fixed? Answer: $500.00 EXAMPLE