Category: Insurance

Digging Deeper: Retirement’s Difficult Choices (Part 2)

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Jun 25, 2018
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Retirement, Insurance
Planning for Health Care Expenses High on my retirement planning “to do” list has been to make a call on whether or not to get long-term care insurance. I have been procrastinating mightily on this one. So when I read an article outlining a new model for assessing health care costs in retirement (long-term care insurance is part of this equation) put together for Vanguard by Mercer Health Benefits, it pushed the issue back onto my regular “to do” list. Time is money,...

What I'm Reading This Weekend (June 23-24)

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Jun 22, 2018
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Current Events, Employment, Personal Finance, Taxes, Stocks, Insurance
Today’s Headlines: States cleared to charge sales tax on online sales and banks pass first phase of the Fed’s stress tests, wait to hear if they can buy back shares or increase dividends.  Demographics/Employment As baby boomers retire, there are fewer workers to take their places. Who will support them? This WSJ article includes some informative maps. The FRB of Atlanta published an article detailing its findings on industries facing a shortage of workers. One aspect of...

What's New With.....Insurance?

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Jun 01, 2018
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Insurance, Current Events
Merger mania hits all types of insurance companies. For Health insurance companies, the mega mergers of the major insurers were not approved, so the mergers are more creative/vertical in nature. In the property/casualty sector, AXA (France) moved to buy XL Group (Bermuda) for over $15 Billion. Walmart looking to get into the health insurance business by acquiring Humana. Health Insurance There are four new exemptions for avoiding penalties for not having health insurance.   The...

Question of the Day: Can you get an insurance policy to cover...?

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Apr 04, 2018
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Question of the Day, Insurance, Research
Can you get an insurance policy to cover... Death by laughter? Loss of taste buds? Kidnapping and ransoms? Answer: Yes, yes and yes! Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Questions: Who do you think might want an insurance policy to cover them if they lost their taste buds? If you were a professional athlete, what might you want to get an insurance policy for? In your own words, what is the purpose of...

The "I'm Glad That I Have Renters Insurance" Activity (courtesy of Brian Page)

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Apr 04, 2018
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Insurance, Activities, Activity, Budgeting
While on the subject of insurance, thank you to Brian Page for sharing his two-part activity to teach students about renters insurance. Once students choose their policy option they get one of those unwelcome surprises where they get to immediately apply what they have learned. Here are links to Part I and Part II of the activity.  Renters Insurance has never seemed so exciting, so just remember, stay calm... ------------------------------ Handout: Renters Insurance Part I (20 minutes):...

What I'm Reading This Weekend (April 1st and 2nd)

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Mar 30, 2018
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Current Events, Insurance, Student Loans, Stocks, Budgeting, Interactive
Social Media under the Microscope Unless you have had your head in the sand, every other headline this week was about FACEBOOK.  Here are a sampling of articles that cover all of the angles. You can start here with an explanation of the Google and Facebook privacy issue. Then learn what data Facebook (and others) collects on users. (EVERYTHING!!!) Are you now curious to see exactly what Facebook has on you?  This tells you how to get that info for yourself. If that was scary - maybe...

What's New With...Insurance?

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Mar 15, 2018
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Insurance, Current Events, Article
What’s New with Insurance One college has an innovative way to get students interested in insurance. Butler University has a student-run insurance company.  What a way to learn about risk and evaluate costs! You Can Insure That? Do you know when to buy or decline rental car insurance? Editor’s Note: I declined, had a deer wreck our rental and discovered after a few anxious hours that my auto insurance policy covered rentals. Phew! Should you buy travel insurance? How about...

Digging Deeper: How Far Would You Go to Lower Your Car Insurance Costs?

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Feb 19, 2018
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Insurance, Current Events
An ad popped up in my feed the other day for auto insurance.  It offered the possibility of lower rates if I plugged a tracking device like this in my car to monitor my driving habits. I knew these things existed.  I had even asked my insurance agent about them. Major insurance companies like AllState and Progressive have this device.  At this point in time, if these devices indicate you are a safe driver, you will get a discount (the actual size of these discounts is up for...

Question of the Day: Until what age can a child stay on their parents' health insurance?

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Feb 13, 2018
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Insurance, Personal Finance, Question of the Day, Current Events
Answer: 26 years old. Questions: There’s a misconception that young people don’t have to get insurance because they’re generally healthy and don’t need it. What’s one argument against this? Do you think there is a cost to being on a parent's health insurance plan? If so, do you think a child's insurance is more/less expensive than their parent's health insurance?  Do you think this is a good policy to allow students to stay on their parent's health insurance...

Question of the Day; What percent of young adults get their driver's license before the age of 18?

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Jan 29, 2018
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Insurance, Question of the Day, Budgeting
Answer: 54% Questions: Did you get/plan to get your driver's license before you turned 18?  At what age do you think it is important to have a driver's license? Explain.  Did you/will you use a driving school to learn how to drive? How much did it cost?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from Pacific Standard):  Nationwide, delays in obtaining a license are...

Question of the Day: What color car is more costly to insure: red or black?

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Oct 25, 2017
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Insurance, Question of the Day
NGPF has just started a new service: The Daily QuoD (that's Question of the Day in NGPF-speak!). Subscribe to our blog (right hand side of NGPF Blog homepage) and you will receive a new QuoD every weekday during the school ready to use in your classroom. Enjoy! ------------------------ Answer: They cost the same to insure. From Insurance Information Institute: "It doesn’t matter. What does matter is the type of car you select. What you pay for...

To Extend The Warranty or Not To Extend The Warranty; That Is The Question

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Sep 07, 2017
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Insurance, Current Events, Question of the Day
Thanks to NGPF Fellow, Brian Johnson for this recent post on this fundamental question about a popular form of insurance:  This story actually begins in 2000 when flat screen TVs were starting to replace the big tube TVs.  In purchasing my first flat screen TV I did the unthinkable…I bought an extended warranty plan!  What I received was an education and confidence that would save me money in the future. Sure enough, that TV went out with about two months left on the...

NGPF Podcast: Tim Talks to Insurance Expert Sheri Jamme

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Aug 06, 2017
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Insurance, Podcasts
Ask most personal finance educators about teaching insurance and they will tell you how difficult it is to make it “interesting” to their students. The good news is that we have Sheri Jamme on the podcast today who has some great ideas on how to make that happen. Yes, it took 100 podcasts, but finally we have an insurance subject expert that will entertain and educate you. We discuss how credit scores affect insurance premiums (more than you might think!), how autonomous vehicles...

Infographic: How Do Americans Get Health Insurance?

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Aug 06, 2017
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Insurance, Question of the Day, Current Events
From Visual Capitalist:  Questions: How do most people get their health insurance? Indicate the percentage of people that fit into that category? What percentage of the population is currently uninsured? What do you think are the risks of being uninsured? Do a quick Google search and explain what Medicaid and Medicare are.  Do you think that people who receive their health insurance through their employer have to pay any money out-of-pocket for their medical expenses? _________________...

Interactive: Auto Insurance Comparison Shopping

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Jun 29, 2017
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Insurance, Activity, Research, Current Events, Activities, Parent Conversations, Interactive
Hat tip to Talitha Oliveri for pointing out this auto insurance comparison site (we had been looking for one like this for years that didn’t require setting up an account!!!). Your students are required to enter the following information, which will help them understand the factors that impact insurance rates, and they receive actual quotes from leading insurance companies: Car information Type of car Leased vs. financed Purpose of vehicle Miles driven Anti-theft device (yes/no)...