Insurance: Lesson 1
Insurance: The Basics
Use the slides above while watching the video below.
The Money Management Bible Checklist
Insurance
Health
Evaluate your health insurance options based on:
Deductibles
Copayment/Coinsurance
Premiums
Pick where you are going to get your health insurance
Note your enrollment period
Check out the Health Savings Account (HSA) to see if it’s the right fit for you
Life
Make a decision about whether you need life insurance
Determine how much life insurance you need
Determine what type of plan you will get
Shop for rates (private insurer)
Determine if you want to also get your employer’s life insurance policy (if applicable)
Short-Term Disability
Figure out if your employer has a short-term disability plan and how much it costs
Make a decision about whether you need short-term disability insurance
Long-Term Disability
Make a decision about whether you need long-term disability insurance
Determine what type of plan you will get
Figure out if your employer has a long-term disability plan and how much it costs
Shop for rates (private insurer)
Evaluate your long-term disability insurance options based on:
Premiums
Policy’s definition of disabled (that makes you eligible to receive your benefits)
The benefit (the % of your gross income)
Benefit plan period
Elimination period (also called waiting period)
Car
Shop for rates (private insurer)
Renters
Shop for rates (private insurer)
Home
Shop for rates (private insurer)