BM 418 Day 13 Notes and Objectives

Sudweeks

Fall 2009 October 13, 2009

Winter 2010 February 17, 2010

Introduction

Welcome to class--it is great to be here

Day 13 Objectives

Insurance 3: Health Insurance

A. Understand how health insurance relates to your personal financial plan

B. Understand basic health insurance coverage and provisions

C. Understand how to control health care costs

Insurance 4: Auto and Home Insurance

A. Understand how auto, homeowners, and liability insurance fit into your personal financial plan

Understand the key areas of Auto Insurance and how to reduce your costs

Understand the key areas of Homeowners Insurance and how to reduce your costs

Understand the key areas of Liability Insurance

Non-teaching activities

Budgets are to be handed in Thursday

Active Learning Strategies

PF Requirements and CLUE Reports (Auto – slides 3-5) bsudweeks choicetrust123

Have someone start getting their CLUE report while I begin talking

Present: Before Choosing your Health Plan – Read 7 Questions to Ask

Ask: What can you do to reduce medical costs?

PowerPoints: How to control Health Care costs (Health: slide 52-62)

Insurance Stories

Story 1: Tahoe-Donner wreck--Things that I did wrong

Story 2: 8th East Deer story --Deer are uninsured motorists

Story 3: Park City skiing hitting Elk or Moose-- Avoid the moose for your life

Story 4: Jeff Wilson wedding – presents stolen from car

Discussion: Auto Insurance (Overheads):

Expedition: go through all sections:

Blazer: compare with Expedition sheet: collision/comp

Liability Insurance: Liability insurance is cheap

Summary: If you are in an accident (Auto: slides 23-25)

Discussion: Renters Insurance

Story: Driver and gas leak: Ignorance is a covered peril

Question: How many have renters insurance and why?

Renters Insurance Overheads
Many times discount on auto will cover cost of renters insurance

Discussion: Homeowners insurance

PowerPoints: Auto/Home: (slides 32-36) If want to reduce homeowner’s insurance costs (slides 38-45)

Read: 12 Steps to reduce Homeowners insurance costs

Discussion: Liability insurance

Umbrella policies (show overhead of umbrella policy)

Summary and Closing Thoughts

Notes:

Winter 2010

I did the Quiz, then PFP, then talked about CLUE reports then had someone fill in his information. While we were waiting, I talked about the 7 key questions to ask and went through slides to reduce health care costs. I then told my 4 stories (ski trip, deer, eldk, Christmas), and then brought up the insurance sheet on the Expedition. I then showed the Blazer without comprehensive or collision, and the higher costs. I talked about collision versus comprehensive, and told them how I should have told the police officer about the other cars. I them to hit the deer (but avoid the moose or elk). I showed Creed’s slides on the cheapness of liability coverage. I then asked about renters insurance, and talked about how the savings from the auto may actually save you money. I talked how renters insurance would have covered the loss from the wedding presents. I went into homeowner’s /renters and talked about how the homeowner’s insurance would cover the cost of the wedding presents. I talked on liability insurance, and then did the overheads. I went into homeowners insurance, and things to reduce homeowners costs. Reviews: 6,7,7,7,8,8,8,8,8.

Fall 2009

I did the PFP, then talked about CLUE reports then had someone fill in his information. While we were waiting, I talked about the 7 key questions to ask. I then told my 4 stories (ski trip, deer, wedding, elk), and then brought up the insurance sheet on the Expedition. I then showed the Blazer without comprehensive or collision, and the higher costs. I talked about collision versus comprehensive, and told them how I should have told the police officer about the other cars. I them to hit the deer (but avoid the moose or elk). I showed Creed’s slides on the cheapness of liability coverage. I then asked about renters insurance, and talked about how the savings from the auto may actually save you money. I talked how renters insurance would have covered the loss from the wedding presents. I went into homeowner’s /renters and talked about how the homeowner’s insurance would cover the cost of the wedding presents. I went into homeowners insurance, and things to reduce homeowners costs. Reviews: 7,7.

Winter 2009

I did the PFP, then talked about CLUE reports then had someone fill in his information. While we were waiting, I talked about the 7 key questions to ask. I then told my 4 stories (ski trip, deer, wedding, elk), and then brought up the insurance sheet on the Expedition. I then showed the Blazer without comprehensive or collision, and the higher costs. I talked about collision versus comprehensive, and told them how I should have told the police officer about the other cars. I them to hit the deer (but avoid the moose or elk). I showed Creed’s slides on the cheapness of liability coverage. I then asked about renters insurance, and talked about how the savings from the auto may actually save you money. I talked how renters insurance would have covered the loss from the wedding presents. Two students said they had done this and it did save money. I went into homeowner’s /renters and talked about how the homeowner’s insurance would cover the cost of the wedding presents. I went into homeowners insurance, and things to reduce homeowners costs. Reviews: 6,7,7,7,7,7,8,8,8,8. It seemed to work well.

Fall 2008

I talked about CLUE reports then had someone fill in his information. While we were waiting, I talked about the 7 key questions to ask. I then told my 4 stories (ski trip, deer, wedding, elk), and then brought up the insurance sheet on the Expedition. I then showed the Blazer without comprehensive or collision, and the higher costs. I talked about collision versus comprehensive, and told them how I should have told the police officer about the other cars. I them to hit the deer (but avoid the moose or elk). I showed Creed’s slides on the cheapness of liability coverage. I then asked about renters insurance, and talked about how the savings from the auto may actually save you money. I talked how renters insurance would have covered the loss from the wedding presents. Two students said they had done this and it did save money. I went into homeowner’s /renters and talked about how the homeowner’s insurance would cover the cost of the wedding presents. I went into homeowners insurance, and things to reduce homeowners costs. Reviews: 8,

Spring 2008

I talked about CLUE reports then had someone fill in his information. While we were waiting, I told my 3 stories, and then brought up the insurance sheet on the Expedition. I then showed the Blazer without comprehensive or collision, and the higher costs. I talked about collision versus comprehensive, and told them how I should have told the police officer about the other cars. I them to hit the deer (but avoid the moose or elk). I showed Creed’s slides on the cheapness of liability coverage. I then asked about renters insurance, and talked about how the savings from the auto may actually save you money. I talked how renters insurance would have covered the loss from the wedding presents. Two students said they had done this and it did save money. I went into homeowner’s /renters and talked about how the homeowner’s insurance would cover the cost of the wedding presents. I went into homeowners insurance, and things to reduce homeowners costs. Reviews: 7,

Winter 2008

I talked about CLUE reports then had someone fill in his information. While we were waiting, I told my 4 stories, and then brought up the insurance sheet on the Expedition. I then showed the Blazer without comprehensive or collision, and the higher costs. I talked about collision versus comprehensive, and told them how I should have told the police officer about the other cars. I them to hit the deer (but avoid the moose or elk). I showed Creed’s slides on the cheapness of liability coverage. I then asked about renters insurance, and talked about how the savings from the auto may actually save you money. I talked how renters insurance would have covered the loss from the wedding presents. Two students said they had done this and it did save money. I went into homeowner’s /renters and talked about how the homeowner’s insurance would cover the cost of the wedding presents. I went into homeowners insurance, and things to reduce homeowners costs. Reviews: 7,7,8,

Fall 2007

I talked about the 7 questions to ask your health insurance provider, then had a student get his CLUE report. Then I turned it over to Creed Archibald who talked on auto insurance. It was pretty good.

Spring 2007

I showed TT29 and went through it. I talked about CLUE reports then had Reid fill in his information. While we were waiting, I told my 4 stories, and then brought up the insurance sheet on the Expedition. I then showed the Blazer without comprehensive or collision, and the higher costs. I talked about collision versus comprehensive, and told them how I should have told the police officer about the other cars. I them to hit the deer (but avoid the moose or elk). I showed Creed’s slides on the cheapness of liability coverage. I then asked about renters insurance, and talked about how the savings from the auto may actually save you money. I talked how renters insurance would have covered the loss from the wedding presents. Two students said they had done this and it did save money. I went into homeowner’s /renters and talked about how the homeowner’s insurance would cover the cost of the wedding presents. I went into homeowners insurance, and things to reduce homeowners costs. I did one problem. Reviews: 8,8

Winter 2007

I talked about added sections on how to choose term versus life, questions to ask life insurance salesmen, and comparison of methods to compare term versus cash value. Then I told my 4 stories, and then brought up the insurance sheet on the Expedition. I showed Creed’s slides on the cheapness of liability coverage, then showed the Blazer without comprehensive or collision, and the higher costs. I talked about collision versus comprehensive, and told them to hit the deer (but avoid the moose or elk). I then asked about renters insurance, and talked about how the savings from the auto may actually save you money. Two students said they had done this and it did save money. I went into homeowner’s /renters and talked about how the homeowner’s insurance would cover the cost of the wedding presents. I went into homeowners insurance, and things to reduce homeowners costs, then liability insurance. I did not have any time for problems. Reviews: 7,7,8,7,6

Fall 2006

I finished some information on life insurance, then went into insurance. I started with three stories, 1st at Tahoe Donner, 2nd in Oren, 3rd at Park City, and 4th, Jeff Willson and getting his wedding presents stolen. Those went well. We talked about which would raise your rates. Then we went into the actual insurance forms on the Expedition and Blazer. I showed a commercial, then went into the cost of liability coverage and how cheap it was. I then went into renters insurance, and what they should do, and how cheap it was with the auto/home discount. Then I finished with liability insurance. Reviews: 7

Spring 2006

I started with the PFP, and then the 8th east deer story, then went into overheads with the 2006 Expedition. I used Creed’s slides for liability coverage, and compared the liability coverage of the Blazer. Talked about CLUE reports, and had a student pull theirs. I liked the example that auto insurance covers anything that if you lift up the car and shake it, and it falls out, it is not covered by auto insurance. Then went into renters and how cheap that was, and homeowners insurance. I added how to reduce your homeowners insurance costs.

Winter 2006

I started with the PFP, and then the 8th east deer story, then went into overheads with the 2006 Expedition. I used Creed’s slides for liability coverage, and compared the liability coverage of the Blazer. Talked about CLUE reports, and had a student pull theirs. I liked the example that auto insurance covers anything that if you lift up the car and shake it, and it falls out, it is not covered by auto insurance. Then went into renters and how cheap that was, and homeowners insurance. I should have ended with a problem. Reviews: 7,7,8

Fall 2005

I started with stories of my crashes in Tahoe Donner and the deer. Then we went into the coverage of cars, and how liability insurance was cheap. If you needed to cut costs, increase deductibles. Then we went into renters insurance. It is really cheap. They should get replacement coverage. We finally went into home coverage, then liability insurance and umbrella coverage. I told the story of Kaili and the kasea buggy. Reviews: 7,8

Spring 2005

Instead of using the PowerPoints, I used overheads of the insurance program that Creed uses. It seemed to go well. It gave lots of points to discuss, first with car insurance and how cheap liability insurance was. Second, with renters insurance and how you may actually earn money by taking it out. Then we finished up with more things from the life insurance, mainly costs of Variable universal life products. Forgot reviews.

Winter 2005

We did the group presentations, then I showed the www.choicetrust.com website and showed a CLUE report. It was really good. Then I turned the time over to Creed, who did a great job. I made sure he had time to give some suggestions for the last 10 minutes of class. It was really good.