Consumer Advice

Please post one piece of advice, as if you were talking to a younger high school student.  Something you have learned in Consumer Education that would help them in life going forward.  Keep it appropriate, of course.  Log in anonymously, but put your first name and last initial at the end of the post.  Thank you.

INSURANCE QUEST

DUE 12/18/12

1. You are going to report on one of the following topics
2. Answer all of the following questions, and put a couple other things to know
3. Explain things simply, as if you are explaining them to a sixth grader.  Do not use words or concepts you do not understand.
4. You will be called on to present in front of the class, and answer questions on the topic
5. Cite all sources
6. Your group is to become mini experts on the topic -  your teacher will pick a “captain” of the group who will dole out the research and typing responsibilities
7. Give examples of real life scenarios
8. You may use PowerPoint, but it must be dynamic and animated
9. Have a title slide with topic and group members names, a source slide, and a conclusion slide
10. Unlike past projects, you will be given ample but not excessive time to complete the project
11. When done, have the captain email the teacher the link to the project.  The subject should be the topic, and the group members should be listed in the email.

Car Insurance (Captains: Anna Z, Daniel D., Brandon N.)
1.      What is the minimum coverage you need in Illinois?
2.      What are comprehensive, liability, uninsured, underinsured, and collision coverage?
3.      How much does it cost?
4.      What are the cost differences between male/female, young/older driver, etc.?
5.      What happens when you get a ticket (moving violation)?
6.      What are the ramifications of a DUI?
7.      How do I reduce my premiums?

Life Insurance (Captains: Nate S., Nicole I., Resa M.)

1. When do you need life insurance?
2. What are the differences between term and whole life?
3. What is the cost difference between the two?
4. How does the “saving” part of permanent/whole life insurance work?
5. What type of medical exams do you need and what do they involve?
6. What is a beneficiary and who can you name?
7. When your beneficiaries make the claim, what happens?
8. When does insurance pay and not pay?

Health Insurance (Captains: Jake Y, Grace R., Jamie P.)

1. When do I need health insurance?
2. What are the costs?
3. Why is health insurance so expensive and controversial?
4. What is the new health care plan put forth by the current president?
5. What is the difference between and HMO and a PPO?
6. What is covered/not covered?

Renters Insurance (Captains: Grant R., Aaron N., Austin Z.)

1. When do I need it?
2. Do I need it when in college?
3. How much does it cost?
4. What does it cover/not cover?
5. How much coverage should I get?
6. What is the difference between replacement cost and actual cash value?

Homeowners Insurance (Captains: Abbie K., Tori W., Emily W.)

1. When do I get it?
2. What does it cover?
3. How much does it cost?
4. What affects my costs?
5. What is a “home inventory”?
6. What is the difference between replacement cost and actual cash value?