PERSONAL FINANCE:  THE INSURANCE BASICS CHALLENGE QUESTIONS THINKING SHEET.
We are going to be discussing INSURANCE today!  Yay!  There will be some CHALLENGE QUESTIONS along the way.  Answer them below!
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Name: *
Economics Class *
What are examples of unexpected events that may result in a financial loss?
Try to list at least a few of these!  If anyone lists an event that is CORRECT and NOT LISTED by anyone else, they will receive 10 extra credit points!
Experts say that buying insurance is buying financial security.  Do you think this is true?  Why or why not?
How does an insurance company make money?
Why is the best outcome to have insurance but never collect on it?
In the case of LOUISE- What would Louise’s options have been if she did not have insurance?
In the case of CARLOS:  How much does CARLOS have to pay?  How much does his INSURANCE COMPANY have to pay?
Why are disability and long term care insurance important?
When is it necessary to purchase life insurance?
Why would an individual want automobile insurance coverage beyond liability (the minimum required by law)?
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