1 tornado 2 what may be left after a few minutes of disaster
TRANSCRIPT
1
TORNADO
2
WHAT MAY BE LEFT AFTER A FEW MINUTES OF DISASTER
3
Anything can happen and sometimes does
4
Types of insurance There are basically three types of
insurance.
--Life and health insurance
--Property and casualty insurance
--Production insurance—Crop insurance
5
Insurance A person takes out an insurance policy and
pays a professional risk taker ( the insurance company) a small but regular sum of money ( premium) to assume the financial burden in case of the unexpected.
6
Insurance How much risk are you willing to bear? Insurance is a tool to use to reduce individual risk Insurance is a response to problems caused by
catastrophic losses due to unplanned major losses.
Insurance cost money– but compared to the potential financial loss or liability it may be a small amount
Insurance is not intended to make a profit for the insured.
7
Types of Insurance Life Insurance– Protects your family against loss of
income because of a death in the family Accident and Health Insurance– Protects you against the
expenses arising from illness and accident, as well as loss of income from illness and accident
Property and Casualty Insurance– Protection against loss if property is damaged, destroyed, or stolen.
Liability Insurance– Protects against lawsuits if you cause personal injury or damage property of others
8
Points to remember Insure against losses that may lead to financial
disaster Insure the irreplaceable or the most necessary
property first Don’t insure anything you can easily afford to
replace yourself Be sure the coverage is adequate Buy insurance that provides coverage for
situations you are likely to have a claim Remember insurance is not there to make money
9
Insurance Few could bear the risk of fire, accidents,
lawsuits, and death in the family It protects the family financially and lessens the
hardship of unexpected economic loss It meets your obligation to others who might
suffer injury or loss because of something you did It makes it possible for you to take certain risks
you otherwise could not take
10
Worker’s Compensation Insurance system required for employees of a business Covers job related injuries and sickness In a job-related accident or sickness occur, the worker’s
compensation policy from the business is the only policy paying for the employee’s expenses
It is possible to get worker’s compensation on a self-employed person
Disability insurance can protect insured against a loss of income caused by injury or illness. It provides income for a specified amount of time.
11
Selecting an Insurance Agent or Company Insurance agents are salespeople– pick one you
can trust Independent agents can offer a variety of
coverage from many different insurance companies
Price should not be the only decision– make sure to check into– coverage, service, needs, financial stability, and prompt payment of claims.
12
THE END
Complete the Insurance Evaluation and Worksheet