financial building blocks a resource for sound financial strategies dr. steven m. hays personal...
TRANSCRIPT
Financial Building BlocksA Resource for
Sound Financial Strategies
Dr. Steven M. Hays
Personal Finance
Bishop Kearney High School
Insurance and Financial Services
Overview
• What is insurance?• Why is insurance important?• Types of insurance• How to determine your need for insurance• Q & A
• Insurance
• Income and spending
• Saving and investing
Building Blocks of a Sound Financial Program
What is Insurance?
• A promise of compensation for specific potential future losses in exchange for a periodic payment.
• Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss.
Types of Insurance
• Auto, Home, Renters insurance
• Life insurance
• Health insurance
• Disability income insurance
How Whole Life Insurance Works
You
FixedPremiums
Insurance Company
DeathBenefit
Beneficiaries
CashValue
$ $
Policy
$
Insurance Action Plan
• Consider your life insurance needs
• Protect what you own with auto and homeowners/renters insurance
• Don’t overlook your other needs, including health insurance and disability income insurance