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Motivations:
peace of mind
security of the future
insulation from the unknown
fear
obligations
to provide; responsibility
Life
Insurance
Whole Life. Insurance protection & investment accumulation
investment traditionally from the insurance company asset pool
Term Insurance.
Insurance protection
Universal Life.
Insurance protection & investment accumulation
investment from investment companies
Variable Universal.
Insurance protection & investment accumulation
investment deferred from investment companies
term insurance
& whole life graphs
universal
life graph
Health
Insurance
Hospitalization
Major Medical
Major Factors:
pre-existing conditions
deductibles - initial payments and co-payments
exclusions - procedures not covered
COBRA - Consolidated Omnibus Budget Reconciliation Act
18 months for employee (lower for the spouse)
Types of Health Insurance
HMO - Health Maintenance Organization
PPO - Preferred Provider Organization
Capitation Plans - Captive Providers
Traditional - Insurance Company & Insured
Disability
Insurance
Replacement of earned income
employment benefits
social security
individual policies
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