Personal Risk Management Lesson Plan - Bellevue College

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Personal Risk Management 90-minute Session Topics Activities Must Cover If Time Permits Employee benefits Healthcare insurance Pick your favorite employee benefits. Choosing a health plan. Find quotes on the internet Auto and home insurance Find quotes on the internet. How do you evaluate the coverage? Retirement saving Disability, long term care, and life insurance Select funds for 401K Factors in life, disability and long term insurance selection HMO, PPO, Indemnity plans Health plan terminology – deductibles, copay Structure of auto and house insurance Coverage, limits, valuation, claims Saving for retirement Life, disability and long term care insurance Insurance terminology – collision, comprehensive, personal injury protection, etc. Social security, unemployment 2009 Page 4
TABLE OF CONTENTS Personal Risk Management Lesson Plan..................................................................................... 2 Personal Risk Management 90-minute Session ........................................................................... 4 TABLE OF CONTENTS .............................................................................................................. 5 About this Course for the Instructor ............................................................................................. 8 About this Course for the Student ................................................................................................ 9 Introduction ............................................................................................................................... 11 Setting Financial Goals .......................................................................................................... 15 Education ........................................................................................................................... 16 First House ......................................................................................................................... 16 Retirement ......................................................................................................................... 16 Other goals ........................................................................................................................ 19 Create a spending plan .......................................................................................................... 19 Protect Your Wealth ............................................................................................................... 23 Future Financial Behavior Evaluation .................................................................................. 25 What is Risk Management? ................................................................................................... 26 Unit 1: Starting Out .................................................................................................................... 27 Your Paycheck ...................................................................................................................... 27 Your Paycheck Summary ................................................................................................... 27 Social Security ....................................................................................................................... 28 Social Security ....................................................................................................................... 29 Social Security Summary .................................................................................................... 29 Social Security Benefits ...................................................................................................... 30 Issues with Social Security ................................................................................................. 31 Withholding ............................................................................................................................ 31 Employee Benefits Overview ................................................................................................. 33 Summary of Employee Benefits Overview .......................................................................... 36 Unit 2: Risk Management in Your 20s ........................................................................................ 38 Auto Insurance ...................................................................................................................... 38 Summary of Auto Insurance ............................................................................................... 38 Why auto insurance? .......................................................................................................... 38 Understand Your Auto Insurance Coverage ........................................................................ 40 Cost of Auto Insurance ....................................................................................................... 41 Buying Auto Insurance ....................................................................................................... 42 Credit Score and Auto Insurance ........................................................................................... 47 Summary on Credit and Auto Insurance ............................................................................. 47 Your Credit Score ............................................................................................................... 48 Payment History ................................................................................................................. 48 Amounts Owed ................................................................................................................... 49 Length of Credit History ...................................................................................................... 49 New Credit ......................................................................................................................... 49 Types of Credit Used .......................................................................................................... 49 Maintaining Complete and Accurate Credit Records ............................................................... 49 Your rights .......................................................................................................................... 50 Dealing with Credit Problems .............................................................................................. 50 Making an Auto Claim ........................................................................................................ 51 Accident Form .................................................................................................................... 52 Insuring Your Property ........................................................................................................... 54 Renters policy .................................................................................................................... 54 2009 Page 5
Page 1 and 2: Personal Risk Management Conserving
Page 3: Unit Ages Topics Concepts Key Assig
Page 7 and 8: Shopping for Life Insurance .......
Page 9 and 10: About this Course for the Student R
Page 11 and 12: Income $60,000 $40,000 $20,000 -$10
Page 13 and 14: Of course, your financial life does
Page 15 and 16: and turns that can be thrown at you
Page 17 and 18: Most of you are going to live longe
Page 19 and 20: Other goals Maybe you’ve got othe
Page 21 and 22: What financial records to keep and
Page 23 and 24: Protect Your Wealth Keep medical r
Page 25 and 26: Future Financial Behavior Evaluatio
Page 27 and 28: Insurance is a multi-billion dollar
Page 29 and 30: All employees need a social securit
Page 31 and 32: Married 2002 -- AGES 65-74 Income L
Page 33 and 34: c) An estimate of the taxes you wil
Page 35 and 36: Other Benefits Paid family leave -
Page 37 and 38: Form students into teams of 3. They
Page 39 and 40: Age group Number of drivers Percent
Page 41 and 42: If you’re stopped by a law enforc
Page 43 and 44: Check with your friends, neighbors,
Page 45 and 46: Liability insurance Uninsured/under
Page 47 and 48: Will the following make your auto i
Page 49 and 50: years), judgments, suits, liens, wa
Page 51 and 52: These coping tips are adapted from
Page 53 and 54: their failure to perform those duti
Page 55 and 56:
www.gmac123.com www.progressive.com
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Medical care for a "typical" insure
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Most plans require that the treatme
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to correct problems? How does the p
Page 63 and 64:
Ask other members Doctor Quality Do
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Are assured that health-care decisi
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Basics Premium Deductible Coinsuran
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KAISER FOUNDATION HEALTH PLAN OF TH
Page 71 and 72:
etter to choose replacement value b
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3. Do research on how much it will
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Licensed to do business in Washingt
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information, such as model or seria
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what your limits for each of those
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By looking at the chart on the next
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doesn’t allow you to take early r
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leave your money with the company p
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Asset allocation also changes with
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Roth IRAs also allow withdrawals wi
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Defined Benefit e. SEP-IRA XYZ has
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Mid Cap Stock - Blend - PESPX Mid C
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Disability is defined for social se
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adjustment Mental health/substance
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Update your coverage as your circum
Page 101 and 102:
Long term care insurance is right f
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Premium Question: How long do you h
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Admitted Company — An insurance c
Page 107 and 108:
income lost when the insured is una
Page 109 and 110:
Individual Market — The portion o
Page 111 and 112:
spouses) who are eligible for socia
Page 113 and 114:
Reinsurance — Insurance bought by
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Personal Risk Management Lesson Plan - Bellevue College

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