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Insurance Basics. Four Major Types of Insurance. Life Insurance Health and Disability Insurance Property Insurance Direct, Indirect losses Casualty Insurance Liability Auto, Workers Comp. Life Insurance. Whole Life Straight Universal Permanent Term Life Single Year

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four major types of insurance
Four Major Types of Insurance
  • Life Insurance
  • Health and Disability Insurance
  • Property Insurance
    • Direct, Indirect losses
  • Casualty Insurance
    • Liability
    • Auto, Workers Comp
life insurance
Life Insurance
  • Whole Life
    • Straight
    • Universal
    • Permanent
  • Term Life
    • Single Year
    • Multi-Year
  • COST FACTORS
  • Contract Amount
  • Type of Policy
    • -Whole, Term
  • Probable Life Expectations
    • - Gender
    • -Age
    • -Medical History
health and disability insurance
Health and Disability Insurance
  • Health Insurance Options
    • - HMO, PPO
    • - Individual
    • -Group
  • Types of Policies
    • -Major Medical
    • - Comprehensive

Cost Factors

-Group Experience

-Age, Gender

-Medical History

-Deductible

-Co-Payment

-Type of Policy

  • Types of Rating
    • - Individual
    • -Group
property insurance
Property Insurance

-Fire and Other Perils

-Personal Liability

Why Buy Property Insurance?

Mortgage Requirements

Financial Ruin

- Damage to your home

- Damage to your property and belongings

- Liability suits due to negligence

perils protected against
Perils Protected Against
  • Fire, Lightning, Smoke, Explosion
  • Windstorm, Hail, Weight of Ice
  • Riot, Civil Commotion
  • Aircraft, Vehicles, Falling Objects
  • Theft, Vandalism, Malicious Mischief
  • Accidental Overflow of Water, Freezing

of Plumbing

usually not covered
Usually not Covered

Flood

COST FACTORS

-Policy Limits

-Location

-Protection

-Type of Construction

-Loss History

-Policy Credits

  • Earth Movement
    • Earthquake
    • Landslide
    • Mudflow

Intentional Loss by or

at the direction of an insured

automobile insurance
Automobile Insurance

It’s the Law!!

Lienholder Requirements

Financial Ruin

- Property damage

- Physical damage

- Medical costs

  • What If You Don’t Buy Insurance?
  • Rebuilding a Car
    • A new Ford Taurus costs about $21,000.
    • - If the same car was totaled in an accident it would cost about $75,000 to rebuild it using replacement parts.
  • Loss of Use
  • Medical Costs
    • At least $2,300 per day
auto insurance
Auto Insurance

TYPES

Liability

Personal Injury Protection

Collision

Comprehensive

Uninsured Motorists

Other Options

COST FACTORS

Age

Sex

Marital Status

Amount You Drive

Where You Drive

What You Drive

Accident Record

Ticket Record

auto insurance1
Auto Insurance

Ways To SAVE

Clean Driving Record

Driver’s Training Course

Good Student Discount

Limits/Deductibles

Type of Car

Shop Your Company!

slide11

In 2008, motor vehicle crashes were the leading cause of death for 15-20 year olds.

  • Teen drivers were involved in 19% of all motor vehicle accidents.
  • Teens were involved in 12.9% of all fatal accidents.
  • The risk of being involved in a fatal crash for teens is three times greater than for drivers age 65 to 69.
  • A survey conducted in spring 2008 found that although the majority of teens (91 percent) believe they are driving safely, only about a third (34 percent) think their friends are good drivers.
  • 76 percent talk on cell phones while driving, 57 percent read or send text messages, 93 percent play loud music and 48 percent say they are easily distracted when friends are passengers.
  • 97 percent said they had seen other teens engaging in risky behaviors such as speeding and not wearing seatbelts while driving.
want to learn more
Want to Learn More?
  • Visit www.investne.org
  • Contact InVEST Nebraska Coordinator
    • olivia.brichacek@biginebraska.org
    • 800-377-3985