Category: Insurance

Order from highest to lowest based on cost: renters insurance, health insurance for average adult, car insurance for 16 year old?

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May 19, 2019
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Insurance, Question of the Day
Answer:  Health insurance: $5,712 Auto insurance for a 16 year old; $4,140 Renter's insurance: $154 - $224 Questions: What do you think are the reasons that people buy insurance for their health, auto and for the apartment they rent? Why do you think that health insurance is more expensive than the other types? Which of the three types of insurance do you think increases in cost as you get older? declines in cost as you get older? Explain. Here's the ready-to-go slides for this...

Reading List for May 4-5

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May 03, 2019
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Economics, Paying for College, Insurance, Investing, Retirement, Current Events
Economics The jobs numbers were released today. 263,000 jobs were added and unemployment is now measured at 3.6%, a 49-year low. The NYT just published a primer explaining how this is measured. A second NYT article explains why it has taken so long for wages to rise in the recovery, and which sectors are experiencing the most wage growth.  Paying for college Apparently states in search of educated folks to fill jobs are offering assistance with student loan debt as a lure. (WSJ) We...

Interactive Monday: What are the most common insurance claims in your neighborhood?

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Apr 28, 2019
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Insurance, Interactive
Thanks to Jessica for pointing out this insurance interactive.  Plug in your zip code and voila, you get the most common and the highest cost claims in your neighborhood. Here's what I found for my hometown in N.J.: Questions: What are the most common insurance claims in your neighborhood?  Click on each of the claim icons to learn more about each of these claims.  Why do you think an insurance company has created this interactive? Does this information make you more/less...

QoD: For those who struggle paying medical bills, what is the main cause: chronic illness or one-time event?

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Apr 23, 2019
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Insurance, Question of the Day
Answer: One-time event Questions: Why do you think that one time or short-term medical expenses more frequently cause people to struggle with medical bills?  What are steps that people can take to prepare for these unforeseen medical expenses?  How does knowing this information impact how you think about health insurance?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Kaiser Family Foundation):  Among...

Chart of the Week: Most Common Types of Medical Bills (For Those Struggling to Pay Them)

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Apr 23, 2019
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Insurance, Chart of the Week, Research
  Questions: What are the top 3 medical bills when it comes to their dollar amounts?  Which bills fits into the category of high frequency but low cost?  Which of the bills listed would you describe as "predictable?" ------------------------ Looking for more Charts of the Week? It's a regular weekly feature and here's some of the recent ones.   ...

QoD: What is the cost to repair an iPhone screen?

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Apr 16, 2019
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Insurance, Question of the Day, Budgeting
You carry them around with you all the time and apparently break them quite a bit. According to this survey, 2/3 of smartphone users damaged their phones in the past year.  Answer: $29-$329, depending on the model and whether you have carry the AppleCare+ insurance Questions: Have you damaged your phone in the last year? If so, have you gotten it repaired?  Do you carry cell phone insurance? Why or why not?  Does knowing that 2/3 of cell phone users damage their phones in a...

Reading List for April 6-7

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Apr 05, 2019
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Financial Literacy, Current Events, Economics, Investing, Paying for College, Insurance
The list is a bit longer today--perhaps more good stuff is popping up during Financial Literacy Month.  In any case, there should be something for everyone here!  Financial Literacy Month CNBC to recognize Financial Literacy Month with special coverage all month.(CNBC) This was today’s CNBC post, crediting you wonderful finlit warriors for helping your students avoid payday lenders!   How much financial education is enough? (Cincinnati.com) What men can learn from the way...

Interactive Monday: Healthcare Prices

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Mar 24, 2019
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Interactive, Insurance
Hat tip to Sonia from team NGPF for highlighting this resource. From Vox.com:  The United States is routinely the most expensive place to buy medical care, whether that’s a Humira pen or a knee replacement or an MRI scan. There are a handful of exceptions to the rule: The US does have colonoscopies that are cheaper than in New Zealand or the United Kingdom. On CT scans, we also come in slightly cheaper than Britain. But aside from those examples, it’s generally a safe bet that...

Reading List for March 16-17

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Mar 15, 2019
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Paying for College, Behavioral Finance, Economics, Insurance, Investing, Financial Literacy, Taxes
Happy St. Patrick's Day! Happy Reading! Higher Ed The story of the week has to be this one about the college entrance bribery. (WAPO) (Inside Higher Ed) While we are on the subject, this next article highlights the class differences in the college experience as poor kids tell rich colleges what they are experiencing. (EdSurge) And most people are surprised to learn how low the college completion rate is: (NPR) Student Loan Hero surveyed 1000 people across all generations about their debt. One...

Reading List for March 2-3

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Mar 01, 2019
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Personal Finance, Insurance, Investing, Economics
Personal Finance Michele Singletary at WAPO talks about the importance of getting kids to be financially literate and what parents can do to promote this. The article features JumpStart and checkmyschool.org. Personal Finance on an Index Card: from Harold Pollack. (University of Chicago)   This one got lots of social media coverage: NFL player teaches finlit at an Ivy League School! (WSJ) Some sound advice suggesting quarterly money reviews with your S.O. and how to conduct them....

Chart of the Week: Do families pay more in federal income taxes or in hospital costs?

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Feb 12, 2019
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Chart of the Week, Insurance
Hat tip to Beth Tallman: Questions What happened between 2010 and 2018 to hospital spending and tax rates?  Does it surprise you that Americans spend more on hospital spending than they did for federal income taxes? Your friends says that he thinks hospital costs have peaked in 2018. Does the graph support his argument?  ----------------- Check out NGPF Insurance Unit Page for ideas on how to bring insurance to life for your students.     Behind the chart from...

Chart of the Week: Car Insurance Costs by Gender and Age

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Dec 19, 2018
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Insurance, Chart of the Week
From ValuePenguin:  Questions: How do you think auto insurance companies determine the premiums that they charge their customers?  Why do you think 16 year old boys have insurance premiums that are $64 more per month than similarly aged girls?  What is the percentage drop in premiums between the ages of 16 and 30 for men? for women? Why do you think there is such a large drop?  --------------- Looking for more charts for your students to analyze? Check out NGPF's Data...

Question of the Day: What percentage of Americans have NOT shopped around for auto insurance for two years or more?

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Dec 09, 2018
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Question of the Day, Insurance, Research, Behavioral Finance
Answer: 48% Questions: What types of items do you shop around for before making the purchase decision? What types of items do you NOT shop around for before purchasing ? Why do you choose not to find other prices for these items? What are ways that you can compare prices for auto insurance policies?  If you were told that you could save $400 a year if you shopped around for auto insurance, would you do it?  Here's the ready-to-go slides for this Question of the Day that...

Question of the Day: What GPA is required to earn a Good Student Discount on an auto insurance policy?

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Dec 03, 2018
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Insurance, Question of the Day, Research
Answer: 3.0 Discounts vary by insurer: Questions: Why do you think that most automobile insurers offer discounts based on good grades?  What else might you want to know about a high school student before providing them with an auto insurance policy?  Why do you think that the insurers seem to offer such varying good student discounts? Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Value Penguin): As you...

What have been the top 10 NGPF Questions of the Day?

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Nov 12, 2018
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Question of the Day, Insurance, Budgeting, Career, Credit Cards, Paying for College
A little over a year ago, we made the fateful decision to produce a new Question of the Day for every day during the school year. Over 250 questions later, we're still going strong. I thought it would be fun to go back and see what questions garnered the most pageviews to try and tease out some themes. Announcing NGPF's top 10 Questions of the Day since October 15, 2017: 10. What's the average lifespan of a toy fad? 9, What color car is more costly to insure: red or black? 8. What are teens...