The document discusses various types of insurance and risk management strategies. It provides information on auto, health, property, life and disability insurance. It also covers insurance terminology like premiums, deductibles, and factors that influence policy costs. Additionally, the document discusses estate planning tools like wills, trusts, and powers of attorney to transfer assets and minimize taxes after death.
Life Insurance Basics provides an overview of most of the types of life insurance products available today and reviews the basics of policies, contracts, beneficiaries and how to buy life insurance. Part of the continuing series of presentations in the Financial Services Industry Training. Contact us if you need training developed for your organization.
Definition and basic characteristics of insurance. Requirements of an insurable risk. Types of insurance. Benefits and Costs of insurance to society. Fundamental legal principles of insurance. Functions of insurer. IRDA and recent trends in insurance sector in India.
Life Insurance Basics provides an overview of most of the types of life insurance products available today and reviews the basics of policies, contracts, beneficiaries and how to buy life insurance. Part of the continuing series of presentations in the Financial Services Industry Training. Contact us if you need training developed for your organization.
Definition and basic characteristics of insurance. Requirements of an insurable risk. Types of insurance. Benefits and Costs of insurance to society. Fundamental legal principles of insurance. Functions of insurer. IRDA and recent trends in insurance sector in India.
Helps customer find the best policy according to their suitable needs
Features,pros,cons and suitability of various policies are given :-
1. Term Policy
2. Whole Life Policy
3. Unit Linked Insurance Policy (ULIP)
4. Money Back Policy
5. Endowment Policy
This presentation is part of our continuing series of training modules for the Financial Services Industry. The Insurance Industry Overview module provides a quick look at products offered by insurance companies and how insurance companies are organized. We provide training in a wide range of topics targeted at the business lines of financial services companies. Contact us for a quote or a needs analysis. Please email me at: Floyd.saunders@yahoo.com.
Insurance is a social device for spreading the chance of financial loss among
a large number of people. Insurance protects against pure risk.
Risk is the possibility of losing economic security.
Risk can be of two kinds: speculative or pure And only pure risks are insurable
Pure risk involves only two possible outcomes:
loss or no loss, with no possibility of gain or profit
Speculative Risk
involves three possible outcomes: loss, no loss or profit
The Law of Large Numbers:
The average of the results obtained from a large number of trials should
be close to the expected value.
Underwriting:
The process of selecting certain types of risks that have historically
produced a profit.
Peril:
A potential cause of loss. Accident, fire, and theft are common perils.
Hazard:
Anything that increases the seriousness of a loss or increases
the likelihood that a loss will occur.
Adverse Selection:
Is the tendency of person with a higher than average chance
of loss to seek insurance at the average state, which if not
Controlled by underwriting, result in higher than expected
Loss levels.
Insurance is not same as gambling. Gambling is creat a new
speculative risk and socially is unproductive but insurance
Deals with pure risk and socially is productive.
Insurance is not same as hedging. Insurance involves the
Transfer of pure risk and reduce objective risk but hedging
Involves just the transfer of speculative risk not risk
Reduduction.
Types of Insurance:
Private insurance, consist of health insurance, property and
liabilty insurance.
Government Insurance, cnosist of social insurance and other
Government insurance programs.
How does insurance work?
You pay a fee called a premium, and in exchange,
the insurance company agrees to pay you a certain
amount of money
-Basic Characteristics Of Insurance
Pooling of losses
Payment of fortuitous losses
Risk transfer
Indemnification
-Pooling of losses
Spreading of losses incurred by the few over the entire group.
• Key mechanism is “law of large number”.
• Future losses are predicted based on law of large number.
Note
• Pooling of loss is the spreading of losses incurred by the few over the
entire group so that in the process average loss is substituted for actual loss.
• The primary purpose of pooling is to reduce the variation in possible
Outcomes , which reduces risk.
-Payment of fortuitous losses
A fortuitous loss is one that is unforeseen and
unexpected and occurs as a result of chance.
Insurance policies do not cover intentional losses
-Risk Transfer
Risk transfer means that a pure risk is transferred from
the insured to the insurer,who typically is in a stronger
Financial position to pay the loss than the insured.
-Indemnification
Means that the insured is restored to his or her approximate
financial position prior to the occurrence of the loss.
- Insurable Risk
Insurer normally insure only pure risk.
Helps customer find the best policy according to their suitable needs
Features,pros,cons and suitability of various policies are given :-
1. Term Policy
2. Whole Life Policy
3. Unit Linked Insurance Policy (ULIP)
4. Money Back Policy
5. Endowment Policy
This presentation is part of our continuing series of training modules for the Financial Services Industry. The Insurance Industry Overview module provides a quick look at products offered by insurance companies and how insurance companies are organized. We provide training in a wide range of topics targeted at the business lines of financial services companies. Contact us for a quote or a needs analysis. Please email me at: Floyd.saunders@yahoo.com.
Insurance is a social device for spreading the chance of financial loss among
a large number of people. Insurance protects against pure risk.
Risk is the possibility of losing economic security.
Risk can be of two kinds: speculative or pure And only pure risks are insurable
Pure risk involves only two possible outcomes:
loss or no loss, with no possibility of gain or profit
Speculative Risk
involves three possible outcomes: loss, no loss or profit
The Law of Large Numbers:
The average of the results obtained from a large number of trials should
be close to the expected value.
Underwriting:
The process of selecting certain types of risks that have historically
produced a profit.
Peril:
A potential cause of loss. Accident, fire, and theft are common perils.
Hazard:
Anything that increases the seriousness of a loss or increases
the likelihood that a loss will occur.
Adverse Selection:
Is the tendency of person with a higher than average chance
of loss to seek insurance at the average state, which if not
Controlled by underwriting, result in higher than expected
Loss levels.
Insurance is not same as gambling. Gambling is creat a new
speculative risk and socially is unproductive but insurance
Deals with pure risk and socially is productive.
Insurance is not same as hedging. Insurance involves the
Transfer of pure risk and reduce objective risk but hedging
Involves just the transfer of speculative risk not risk
Reduduction.
Types of Insurance:
Private insurance, consist of health insurance, property and
liabilty insurance.
Government Insurance, cnosist of social insurance and other
Government insurance programs.
How does insurance work?
You pay a fee called a premium, and in exchange,
the insurance company agrees to pay you a certain
amount of money
-Basic Characteristics Of Insurance
Pooling of losses
Payment of fortuitous losses
Risk transfer
Indemnification
-Pooling of losses
Spreading of losses incurred by the few over the entire group.
• Key mechanism is “law of large number”.
• Future losses are predicted based on law of large number.
Note
• Pooling of loss is the spreading of losses incurred by the few over the
entire group so that in the process average loss is substituted for actual loss.
• The primary purpose of pooling is to reduce the variation in possible
Outcomes , which reduces risk.
-Payment of fortuitous losses
A fortuitous loss is one that is unforeseen and
unexpected and occurs as a result of chance.
Insurance policies do not cover intentional losses
-Risk Transfer
Risk transfer means that a pure risk is transferred from
the insured to the insurer,who typically is in a stronger
Financial position to pay the loss than the insured.
-Indemnification
Means that the insured is restored to his or her approximate
financial position prior to the occurrence of the loss.
- Insurable Risk
Insurer normally insure only pure risk.
Easily share what happened during the past month with a beautiful presentation from Venngage. Bring attention to your accomplishments with graphs, charts, and engaging icons. With a presentation from Venngage your audience will be on the edge of their seats.
Easily share your biggest accomplishments with your audience using graphs, charts, and engaging icons. With a presentation from Venngage your audience will be on the edge of their seats.
Easily share what happened during the past year with a beautiful presentation from Venngage. Bring attention to your accomplishments with graphs, charts, and engaging icons. With a presentation from Venngage your audience will be on the edge of their seats.
The name of Athens, connected to the name of its patron goddess Athena, originates from an earlier Pre-
Greek language.
The etiological myth explaining how Athens acquired this name through the legendary contest between Poseidon and Athena was described by Herodotus, Apollodorus, Ovid, Plutarch, Pausanias and others.
Plato, in his dialogue Cratylus, offers his own etymology of Athena's name connecting it to the phrase ἁ θεονόα or hē theoû nóēsis (ἡ θεοῦ νόησις, 'the mind of god')
http://inarocket.com
Learn BEM fundamentals as fast as possible. What is BEM (Block, element, modifier), BEM syntax, how it works with a real example, etc.
The colours that dresses your brand are playing an important role in how they support this personality that you want to portray. Don’t panic when a colour speaks one thing, but in the relation to the brand it delivers a slightly different response.
Check out these examples of how brands used in conveying their message through branding and banner advertisement.
Read more http://www.bannersnack.com/blog/color-banner-design-inspiration/
How NOT to Run Your Company – Lessons LearnedWeekdone.com
The Internet is full of articles on „How to succeed“ and „How to build a great company“ But while following those guidelines we often forget that there's a lot you just can't do.
Learning from your own mistakes is good, but it's even better when you can learn from the mistakes of others.
Everyone's favorite billionaire and Republican presidential hopeful Donald Trump has said “Watch, listen, and learn. You can’t know it all yourself. Anyone who thinks they do is destined for mediocrity.”
Enjoy the slides and a sense of humor is advised.
Tips from Calvin and Hobbes on how to be a good customerFreshdesk Inc.
What could a careless, mischievous six year old possibly teach you about being a good customer? Well, not much really, but he can surely tell you a lot about what you should NOT do.
Here are a few things you can learn from Calvin about being a good customer.
For more tips on customer support, head over to the Freshdesk blog - http://blog.freshdesk.com/
Lightning Talk #9: How UX and Data Storytelling Can Shape Policy by Mika Aldabaux singapore
How can we take UX and Data Storytelling out of the tech context and use them to change the way government behaves?
Showcasing the truth is the highest goal of data storytelling. Because the design of a chart can affect the interpretation of data in a major way, one must wield visual tools with care and deliberation. Using quantitative facts to evoke an emotional response is best achieved with the combination of UX and data storytelling.
Clickbait: A Guide To Writing Un-Ignorable HeadlinesVenngage
We looked at some of the top performing content on social media, from some of the top publications on the web. From this, we were able to figure out the recipe for crafting a click-worthy title. Here is what we learned...
Dispatches From The New Economy: The Five Faces Of The On-Demand EconomyIntuit Inc.
From people determined to be their own boss, to those embracing the flexibility to do something they love, to workers finding a replacement for a traditional job – people working in the on-demand economy are just about as diverse as the labor market itself. A new report from Intuit Inc. and Emergent Research shows that there are a broad range of motivations – and differing levels of satisfaction – among five distinct groups of on-demand workers:
The Business Builders – primarily driven by the desire to be their own boss. They represent 22 percent of on-demand workers.
The Career Freelancers – happily building a career through independent work. They represent 20 percent of on-demand workers.
The Side Giggers – looking to find financial stability by supplementing existing income. They represent 26 percent of on-demand workers.
The Passionistas – looking for the flexibility to do something they love. They represent 18 percent of on-demand workers.
The Substituters – replacing a traditional job that is no longer available. They represent 14 percent of on-demand workers.
Methodology
A total of 4,622 workers who find work opportunities via the platforms provided by the participating partner companies completed an online survey between September 11 and October 1, 2015. The results were weighted to reflect the proportion of workers in each of the following segments: Drivers/Delivery, Online Talent Marketplaces and Field Service/Onsite Talent. The weights were developed using earlier survey work that sized the on-demand economy. The largest weighted share of on-demand worker respondents from any single company is 16%, with most partner companies providing less than 10% of the respondents.
Visit us at gykantler.com for more information.
The concept of a “brand” is no longer taboo at B2B companies. In fact, strong B2B brands outperform weaker ones by as much as 20%, according to recent research by McKinsey. Yet it’s not easy for ROI-obsessed marketers to justify spending money on their brand, which can be difficult to track. As a result, your brand is too often left either underfunded or on the back-burner altogether.
We’re going to help you solve this. In this presentation you’ll learn:
- How your brand can boost demand generation and other key performance indicators
- The elements of a B2B brand and how those are different from traditional consumer branding
- How to elevate your brand through B2B marketing channels and brand advocates
- Metrics to track the impact of your brand
10 Engagement Lessons Learned From 1 Million Survey AnswersD B
Officevibe released a research report called The State of Employee Engagement based on 1,200,000 survey answers from employees in 157 countries. After analyzing the data, we discovered some truly shocking statistics about the state of engagement across the world.
This actionable webinar will show you how you can keep your employees happy and productive.
See the recording of the webinar:
http://bit.ly/2gjJg3o
Get all the free bonuses and extra tips:
http://bit.ly/2g7Q3xM
Content by Officevibe, the simplest tool for a greater workplace.
To help you better understand Pennsylvania Automobile Insurance Law, the Heslin Law Firm has prepared this guide. We hope this will assist you in making decisions on what type of automobile insurance is best suited for you and your loved ones. Keep in mind, these are only suggestions, but they are based upon dedicating my practice of over 30 years to issues involving automobile insurance law. Over the years, I've seen how a person's selection of an automobile insurance policy can have devastating effects on the financial future of that person or their family. I sincerely believe that this guide will help you choose the automobile insurance that is best for you.
Successfully Reducing Insurance Costs
By Mel Feller, MPA, MHR
Mel Feller Seminars, Coaching For Success 360 Inc. /Mel Feller Coaching
Have you looked at your insurance costs lately? Chances are, your costs have gone up even if your coverage has remained the same. Insurance inflation is a hidden danger because you do not always pay those bills every month or pay them directly. In addition, when they do rise, there seems to be no practical way to control them. Let’s look at some major insurance categories to see where cost-cutting might be possible.
Understanding the Importance of Insurance.pdfHisnuddin Lubis
Insurance is important for several reasons. The primary reason is that it provides financial protection against potential losses, such as property damage, illness, or death. By paying a premium to an insurance company, individuals and businesses can transfer the risk of financial loss to the insurance company. This allows them to protect their assets and financial security in case of an unexpected event.
Powerpoint, adapted from a powerpoint available on the web by the Texas Department of Insurance. Review of the basic types of insurance and their reasons.
Active Capital Reinsurance Ltd commenced operations in 2007, mainly providing credit-related reinsurance solutions to financial institutions in Latin America, and it has a general insurance and reinsurance license issued in Barbados.
Active Capital Reinsurance Ltd commenced operations in 2007, mainly providing credit-related reinsurance solutions to financial institutions in Latin America, and it has a general insurance and reinsurance license issued in Barbados.
Do you know what your car insurance covers? The worst time to start thinking about what insurance coverage you have or don't have is after an accident that has already occurred. The time to prepare and make sure you truly have the coverage you need to protect yourself and your family is before an accident.
http://www.burnetti.com/resources/
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
2. Can You Believe?
Thenumber of insurance claims for
auto accidents involving teens is ____
% higher than those for adults.
Teencrash rates drop by ____% six
months after getting their license.
3. Can You Believe?
In the latest survey available, ____% of
the U.S. population experienced some
level of disability in a year.
Head injuries cause about ____% of all
bicycling fatalities.
4. Can You Believe?
There is a ____% chance you’ll be
involved in an alcohol-related traffic
accident at some point in your life.
Atwork, a disabling injury occurs every
____ seconds.
5. Can You Believe?
Sixteen-year-old drivers have ____
times the risk of being in a crash
compared to 18-year-old drivers.
6.
7. Risk Management
“In exchange for a relatively
small payment, which is the
premium, you’re protected
against the chance of a big
financial setback, a large
loss.”
8. Risk Management
Means you use various ways to deal
with potential personal or financial
losses.
9. Insurance
Protection
against
large-scale
financial
loss
10. Insurance Premium
The payment you make to an insurance
company in exchange for its promise of
protection and help.
Canbe monthly, quarterly, semi-
annually, or annually.
11. Deductible
The amount of the loss you must pay
out of your own pocket before the
insurance company begins to reimburse
you.
Rangefrom $100-$1,000+
SHOP AROUND for best rates
12. Automobile Health
Types of
Disability Insurance Life
Homeowners/Renters
13. Auto Insurance
LiabilityCoverage
Medical Payments
Uninsured Motorist
Underinsured Motorist
Collision
14. Auto Policies
The following factors can
influence the cost of the policy.
Age Mileage
Gender Location
Marital Status Law Enforcement
Type of Car Driving Record
Cost of Repairs
15. Health Insurance
Pays the medical bills in case
you or your family members, become
sick or injured.
Most will cover you until age 19. If
you are in college, they may extend
until 23.
16. Property Insurance
Protectsyour material possessions in
case they are damaged by fire, flood, or
theft.
Homeowner’s insurance vs Renter’s
Insurance
17. Life Insurance
Anytime someone else depends on
your income to help pay bills, you need
life insurance.
Protects people who depend on you
financially in the event of your untimely
death.
Term Life vs Whole Life
18. Future Insurance Needs
Health Insurance
Property Insurance
Life Insurance
Disability Insurance
Liability Insurance
19. Estate Planning
Estate planning is preparing a plan for
transferring property during one’s
lifetime and at one’s death.
Goal should be to minimize taxes on
the estate, make known how you want
your possessions distributed, and to
provide for a smooth transfer of your
possessions to loved ones after death.
20. Tools for Estate Planning
Will
Trust
Joint Ownership of Assets
21. Will
A legal document that tells how you
want your estate to be distributed after
your death.
22. Power of Attorney
A legal instrument authorizing one to
act as another’s attorney or agent.
23. Trust
A legal document in which an individual
gives someone else control of property,
for ultimate distribution to another
person.
Editor's Notes
100 40
Have students guess the number they think fits in the blank. Actual answers 100 and 40
Have students guess the number they think fits in the blank. Actual answers 20 and 75
Have students guess the number they think fits in the blank. Actual answers 30 and 80
Have students guess the number they think fits in the blank. Actual answer 3
Similarities in Rental and Homeowner Insurance Both rental and homeowner insurance provide protection for you and your property. Both insurances are designed to help you replace lost personal property as a result of fire or water damage and vandalism and theft. In addition, both rental and homeowner insurance can provide you with liability protection in case someone is injured while at your home. However, if someone is injured while at your rental property, the landlord may be liable regardless of the cause of the injury. Differences in Rental and Homeowner Coverage The biggest difference between rental and homeowner insurance is the dwelling coverage. When you own the home, you need insurance to cover the cost of replacing your home if it is lost in a fire, repairing the home if it is damaged by vandalism, fire, or water, and protecting you from other structural concerns (like a tree falling on the roof and caving it in). When you are a renter, you need to insure yourself against damage you might cause to the structure. For example, if you have a waterbed and it breaks and damages the flooring, your insurance could cover that if it is included in your policy. However, if there was massive rain that caused flooding, your landlord's insurance policy would cover the damage. It would not be your responsibility. Your renter's policy should focus more on replacing your personal property that might be stolen, damaged, or lost in a fire or flood. Your landlord's policy is responsible for injuries that happen on the premises and damage to the property itself. http://www.finweb.com/insurance/rental-vs-homeowners-insurance.html
Term life insurance is the purest form of coverage. It is purchased for a period of time, or term, and when that period of time expires, the life insurance ends. It is common to buy a term policy for 10 to 30 years, though different periods are available. So if you die you win (so to speak). If you live past the length of the policy, you (or, more specifically, your family members) get no money back. Because the policies are temporary, and only cover death benefits only, a term policy is usually the cheapest life insurance to buy, and is the choice of most younger families. Whole (or permanent) life insurance , on the other hand, is designed to cover a person for their whole life. It builds a cash value or “savings account”, and so is a combination of life insurance and savings. As long as the policy is paid for, or paid up, the coverage will be in force. Because of this, whole life insurance is more expensive. If you live, you get back at least some of, and often much more than, the amount you spent on your premium. You get this money back either by cashing in the policy or by borrowing against it The key is how long you plan to keep the policy . Most financial advisors will tell their clients, especially younger clients, to purchase term coverage. They do this because term policies are much cheaper, and the extra money can be used for other investments that may provide better returns than whole life policies. In most cases, this is probably good advice, especially for large amounts of coverage that growing families need. http://www.savingtoinvest.com/2009/03/life-insurance-whole-versus-term-and.html