Category: Insurance

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) ...

Question: How Much Does Adding A Teen To An Auto Insurance Policy Increase The Premium?

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Jun 26, 2017
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Question of the Day, New Products, Insurance, Article
Answer (from NY Times; subscription): 78% or $671! More from the Times article: An annual analysis by insuranceQuotes.com, a rate comparison site, found that adding a teenager still increased annual premiums substantially, but the magnitude of the increase has been falling over the past few years. Adding a single teenager to a policy caused annual premiums to increase an average of 78 percent, or $671. But rate increases have been decreasing since 2013, when the average increase was 85 percent....

NGPF Podcast: Tim Talks To NGPF Fellow Amy McCabe of Culpeper High School (Virginia)

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Apr 03, 2017
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Podcasts, Investing, Teaching Strategies, Insurance, Tips for Teachers, NGPF Fellows
Thanks to Amy McCabe for taking the time to participate in this recent NGPF Podcast. I got to know Amy during our inaugural Summer Institute in 2016 and was struck by her passion for teaching and for ensuring her students get the skills they need to succeed in their financial lives. In this podcast, you will learn from Amy what it’s like to teach in a state with a personal finance mandate. She discusses her approach to teaching challenging topics, such as investing and insurance and how...

Resource Lists for Financial Educators (courtesy of Barbara O'Neill of Rutgers Cooperative Extension)

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Mar 28, 2017
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Activities, Credit Scores, Career, Paying for College, Research, Budgeting, Credit Cards, Identity Theft, Personal Finance, Investing, Mutual Funds, Savings, WebQuest, Financial Literacy, Student Loans, Checking Accounts, Debit Cards, Payment Types, Stocks, Current Events, Insurance, Video Resource, Case Study, Credit Reports, Employment, Quizzes, Entrepreneurship
What does a distinguished professor do during her sabbatical? Curate personal finance resources, of course! In this blog post, Barbara O’Neill shares the fruits of her hundreds of hours of labor in putting together three awesome resource lists (see bottom of post for links to her lists), including what what she considered the “best of the best” from the NGPF library. As she describes below, the purpose of her odyssey was to replenish her “well” of creative...

Question: What Percentage of High School Seniors Have A Driver's License?

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Mar 13, 2017
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Question of the Day, Research, Budgeting, Purchase Decisions, Current Events, Chart of the Week, Insurance
Answer (from Pew Charitable Trust): 71.5%, a significant decline from 85.3% in 1996. See chart below the line: Questions for students: Do you have a driver’s license? Why or why not? What year do you see the biggest decline? What might explain why it dropped so much that year? Why do you think fewer high school seniors are getting driver’s licenses? One cause might be the sharp increase in car insurance rates. When do you plan to purchase your first car? Is this older or...

Question of the Day: Why Are Car Insurance Rates Going Up?

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Mar 02, 2017
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Research, Question of the Day, Current Events, Chart of the Week, Insurance, Article
Answer: More accidents due to “distracted” drivers. Ok, I know you are not teaching a driver’s ed course, but this is an incredibly important message to get across to new drivers: Don’t Text While You Drive! Here’s the data showing the increase in car-insurance premiums due to more driving and more crashes (from WSJ (subscription)): Here’s what insurers are saying about this disturbing trend (from WSJ): “It is “an epidemic issue for this...

NGPF Launches "The Fine Print"

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Oct 27, 2016
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Teaching Strategies, Career, Credit Cards, Personal Finance, Lesson Idea, Investing, New Products, Current Events, Insurance, Taxes, Credit Reports, Employment
Read the fine print! We hear that advice all the time (a quick google search found it here and here and here). Yet, we didn’t see any resources out there that would actually develop the critical thinking skills required to navigate the complex world of financial products. So, today we launched a new product “The Fine Print,” mini-lessons to give students practice with the important forms, statements and agreements they will encounter in their financial lives. Given that our...

What Does the New FICO Score Measure?

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Oct 16, 2016
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Article, Behavioral Finance, Question of the Day, New Products, Current Events, Insurance
Answer: Your driving behavior From Forbes: The new FICO score will be built using data captured while you drive. A driver would have to install the eDriving smartphone telematics solution, which will “capture acceleration, braking, cornering, speeding, cellphone distraction, and other behavioral data, as well as provide the proprietary, predictive analytics platform to fuel the FICO Safe Driving Score.” Your driving behavior will be captured, stored and analyzed in the same way that credit...

Question: What's the Future of Car Insurance With Driverless Cars?

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Aug 03, 2016
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Question of the Day, New Products, Current Events, Insurance, Audio Resource
Answer: Not a very bright one as the frequency of accidents is expected to drop significantly. Here’s a good way to lead off your auto insurance lesson..change is coming down the pike (pun intended). From Marketplace.org audio interview (4 minutes) with WSJ reporter Leslie Scism: Car insurance right now largely exists to pay out for wrecks. So if driverless cars live up to their potential, and there are many fewer wrecks, then a lot of the reason for being is gone for the car insurance...

Question: How Much Do Car Insurance Premiums Rise When A New Teen Driver Is Added?

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Jun 16, 2016
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Insurance, Question of the Day, Research, Current Events, Parent Conversations
Answer: Ouch. 79%! From Money: According to a new survey from InsuranceQuotes.com, the average premium increased 79% after adding a driver between the ages of 16 and 19 to an auto insurance policy in 2015. Sure, that’s a lot, but it’s down five percentage points from 2013, when families in the same situation saw their premiums jump 84%. And because boys will be boys, it’s more expensive to insure a young man than a young woman; the survey found that the national average for adding a...

NGPF Podcast: Tim Talks With 2016 NGPF Teacher-Innovator Award Winners

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May 04, 2016
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Career, Teaching Strategies, Current Events, Insurance, Taxes, Audio Resource, Activities, Podcasts
In this podcast episode, we speak to three NGPF Teacher-Innovator Award Winners. Each year, during Financial Literacy Month, NGPF recognizes educators with an inventive and innovative streak. Chosen from dozens of submissions, these award winners projects stood out for their creativity and how they took challenging topics and brought them to life for students. You will enjoy hearing each of these educators describe their projects, including what inspired them to create it, the details on how...

The Envelope, Please...Announcing The NGPF Teacher Innovator Award Winners

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Apr 27, 2016
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Activity, Career, Budgeting, Personal Finance, Investing, Financial Literacy, Teaching Strategies, Schools In News, Current Events, Insurance, Employment, Front Page Spotlight, Featured Teachers, Parent Conversations, Contest Previous
Announcing the winners of the 2016 NGPF Teacher Innovator Awards…. Drumroll please. Wait a minute, first we have some people to thank. Thank you to all of the teachers who contributed to this contest by sharing your favorite activity. It inspires us to see the creativity and innovation occurring in personal finance classrooms across the country. Our selection process this year was made that much more difficult due to the quantity and quality of the submissions. In fact, the quality and...

Activity (Update): All The Finance Advice You Need Should Fit On An Index Card

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Apr 17, 2016
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Credit Scores, Activity, Budgeting, Personal Finance, Index Funds, Investing, Savings, Financial Literacy, Current Events, Insurance, Video Resource, Writing assignment, compound interest
Ok, I admit that I have a bit of a fascination with this concept of “all we need to know about personal finance should fit on an index card.” Why? It’s the notion that the simplest solution is often the best solution, especially when it comes to personal finance. For example, when thinking about investing, aren’t a few well-diversified index funds going to serve you better than trying to choose among 7,000 mutual funds or a similar number of publicly-traded stocks? So,...

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