daily information 5/8 objectives: 1.explain the concept of risk. 2.describe risk and how it relates...

Daily Information 5/8Objectives:

1.Explain the concept of risk.

2.Describe risk and how it relates to insurance.

Warm Up:

Test Today!!

Check your grade in infinite campus

Agenda:

1.Warm up2.Unit 2 Test3.Credit Breach Article4.April Budget activity5.Bottom Line

Last Question on TestTell me the most interesting

thing you learned in this unit.

Slide 2




Warm Up:

Take out your crossword puzzle from last class.

Agenda:

1.Warm up2.Jeopardy Review 3.Bottom Line




Warm Up:

What do you currently know about insurance?

How many types of insurance can you name?

Agenda:

1.Warm up2.Ch6 P.P. and note guide3.Bottom Line




Warm Up:

Log onto your computer

Agenda:

1.Warm up2.Nov. Budget - Actual Analysis3.Dec. Budget – Projected4.Finish Movie5.Ch6 Vocab.6.Ch6 P.P.7.Student notes8.Bottom Line

Daily Information 12/2 (d,h)

Objectives:



Warm Up:

Record any expenditures in your December budget

Agenda:

1.Warm up2.Finish Movie3.Ch6 Vocab.4.Ch6 P.P.5.Student notes6.Unit 2 Review7.Bottom Line

November BudgetDid you stay within your budget?

Explain why or why not

What is the hardest thing about budgeting?

Project your budget for December

Create your December Budget Template

Slide 7




Warm Up:


Agenda:

1.Warm up2.Finish Movie3.Ch6 Vocab.4.Ch6 P.P.5.Student notes6.Unit 2 Review7.Bottom Line

Examples of Risk & Loss

Driving a car (risk)o An accident may occur with another

car causing personal injury and damage to the car (loss)

Snow skiing (risk)o An accident may occur while skiing

such as breaking your leg (loss)

Risk Management• Risk assessment: identifying risks and

deciding how serious they are.

• Use risk strategies to protect yourself against loss.o Reduce risk (change your actions)o Avoid risk (stop a certain behavior)o Transfer risk (buy insurance)o Assume risk (self-insure through

savings)




Warm Up:

List one example for each of the following:

Risk ReductionRisk AvoidanceRisk TransferRisk Assumption

Agenda:

1.Warm up2.Ch6 P.P.3.Student notes4.Unit 2 Review5.Bottom Line

Risk Assessment

RiskProbability of Occurrence

SeriousnessRating*

PossibleConsequences

Losing my job Medium 10 Missed payments Lower credit rating

Getting in a car accident

Unknown 10 Personal injury Lawsuit

Suffering physical injury from snowboarding

Medium 3 Missed work time Medical bills

Having bike stolen

Low 2 New/used bike purchase

* 1 is low risk; 5 is medium risk; 10 is high risk




Warm Up:


*Take out your notes from last class

Agenda:

1.Warm up2.Ch6 P.P.3.Student notes4.Unit 2 Review5.Crossword Puzzle6.Bottom Line

What is Health Insurance?A plan that shares the risk of medical costs.

• Could be individual or group (employer)

**Better coverage equals higher premiums

Types of Health CoverageFee-for-service (Unmanaged Care)• You choose medical providers

PPO (MANAGED CARE)• Independent health care providers that work

together to provide health care. Referrals not required.

HMO (MANAGED CARE)• Provides prepaid medical care for its

members

**Managed Care: network of providers

Daily Information 12/2 (a)Objectives:



Warm Up:


Agenda:

1.Warm up2.Ch6 P.P.3.Student notes4.Unit 2 Review5.Bottom Line

Disability InsuranceProvides income when you cannot work

due to injury or illness (not work related).

• It replaces a portion or percentage of normal earnings.

• Short-term: 30 days

• Long-term: 90 days

Disability Insurance You are unable to work due to an injury. Your

short-term disability insurance coverage provides 66% of your regular pay. If your regular annual salary is $42,000 per year, how much is your insurance providing you per month?

$42,000 x .66 = $27,720

$27,720/12 = $2,310

Life InsurancePays money to a beneficiary upon the death of

the insured person.

• Temporary or Term: provides a death benefit only.

• Permanent: provides a death benefit and builds cash value.

• Group: available through employers

What Is Homeowner’s Insurance?• Homeowner’s insurance:

• protects the policyholder from risk of loss to a home and its contents.

• It covers three types of risk.o Fire and other hazards o Criminal activityo Personal Liability(when others are injured on your

property)

What if I rent, not own?... **Buy Renter’s Insurance

A renter (tenant) cannot insure the building BUT you can insure your contents.

Always purchase renter’s insurance to protect against risk of loss of personal property.

Just like a homeowners policy, cover things like fire, theft, and other hazards.

Includes personal liability coverage for what happens inside your residence.

Home InventoryCreate a home inventory in case you need to file a claim.

How Does Insurance Protect Car Owners?• Automobile insurance

protects a car owner from losses as a result of accidents and other events.

• Cost depends on • Model/style of car• Age (and gender)• Driving record of driver.

Insurance Coverage Defined

o Protects against…o Liability: loss as a result of injury to another person or

damage to that person’s propertyo Collision: damage to our own vehicle if you hit

another car or lose control and roll overo Comprehensive: damages to your car from causes

other than collision or rolling overo Uninsured/Underinsured Motorist: damages caused

by a motorist who is at fault and does not have insurance or the means to pay for your damages.

How Can You Reduce Auto Insurance Costs and Maximize Benefits?

• Reducing costs can raise your overall risk

Lower your cost:choose higher deductibles change your driving habits*buy onlinecomparison shop

Change your driving habitsLower premium costs

Take driving training class

Maintain good driving record

Get good grades in school

Choose a car with high safety rating

Park in garage or protected area

Reduce risk Drive while rested instead of

when tired

Keep your car properly serviced

Avoid heavy traffic or bad weather

Drive defensively; be aware of other drivers

Avoid using cell phones, eating or other distractions

Daily Information 12/3 (A)

Objectives:

1.Categorize types of risk and insurance. 2.Identify specific banking procedures.3.Identify the purpose of a budget.

Warm Up:

How can you be prepared in case you need to file a claim for the loss of property due to theft or fire?

Agenda:

1.Warm up2.Complete activity from yesterday3.Crossword Puzzle4.Mind Map

Daily Information 12/5 (D, H)

Objectives:


Warm Up:

How can you be prepared in case you need to file a claim for the loss of property due to theft or fire?

Agenda:

1.Warm up2.Complete activity from yesterday3.Crossword Puzzle4.Mind Map

Daily Information 12/5 (A)

Objectives:


Warm Up:

What activities help you review for tests and quizzes?

For example: do you think the rags to riches and battleship games help you review? What about Jeopardy?

Agenda:

1.Warm up2.Complete Crossword Puzzle3.Mind Map

Mind Maps – Purpose Quickly identify and understand concepts

See the way that pieces of information fit together

Helps you remember information in a format that your mind finds easy to recall and quick to review.

Good for studying and remembering information

Mind Map

Mind Map Outline Budgeting:Income, Savings, Expenses70-20-10 strategy Net WorthAssetsLiabilitiesFixed expensesFinancial Resources

Banking Procedures:Bank ReconciliationEndorsements Demand deposit accountsLiquid Assets Savings BondFDICRule of 72

Risk:Management toolsRisk assessmentRisk of Financial ResourcesSelf-Insure

Insurance:Life Insurance (beneficiary)Managed CarePremium/DeductibleDisability InsuranceHomeowners InsuranceRenters InsuranceAutomobile Insurance (comprehensive, collision) Stop-loss provision Liability CoverageUnderinsured/Uninsured Motorist

Daily Information 12/8

Objectives:


Warm Up:

What are the three main categories included within a budget?

Agenda:

1.Warm up2.Mind Map3.Bottom Line


Objectives:


Warm Up:

What are the three main categories included within a budget?

Agenda:

1.Warm up2.Mind Map3.Bottom Line


Objectives:


Warm Up:

Explain the 70-20-10 strategy when it comes to budgeting.

Agenda:

1.Warm up2.Jeopardy


Objectives:


Warm Up:

Test Today!!

Take out your mind map and review.

Agenda:

1.Warm up2.Unit 2 Test3.Ch. 7 Vocab.4.Ch.7 Notes


Objectives:


Warm Up:

Test Today!!

Take out your mind map and review.

Agenda:

1.Warm up2.Unit 2 Test3.Ch. 7 Vocab.4.Ch.7 Notes5.Credit Card Activity6.Textbook Review Questions

After the TestChapter 7 Vocabulary

Slide 41


1.Explain the purpose of a budget.

2.Identify proper banking procedures.

3.Categorize different types of risk and insurance.

Warm Up:

Take out your mind map and review for Unit 2 Test.

Agenda:

1.Warm up2.Unit 2 Test3.Resume

After the TestLog onto your computer

Complete your resume project

daily information 5/8 objectives: 1.explain the concept of risk. 2.describe risk and how it relates...

Documents

concept of risk

low risk

medium risk

risk strategies

high risk slide

car risk o

examples of risk loss

line slide