Wk 25: Exit Ticket 8.1, 8.2, & 8.3

Jamal will have more comprehensive coverage and better benefits.

Jamal’s premium payments will be refunded if unused.

Jamal will receive lower coverage and fewer benefits.

Jamal will avoid paying any deductibles or copayments.

It spreads the financial risk of large, unexpected losses across many policyholders.

It allows insurers to offer discounts to specific groups of customers.

It eliminates the possibility of any policyholder experiencing a loss.

It ensures that only low-risk individuals are covered by insurance.

Devin pays $1,000, and the insurance company pays $12,000.

Devin pays $1,000, and the insurance company pays $11,000.

Devin pays $0, and the insurance company pays $12,000.

Devin pays $12,000, and the insurance company pays $0.

Comprehensive coverage.

Collision coverage.

Liability coverage.

Gap insurance

Unaffected by the car's mileage or type.

Higher than average due to increased usage and risk.

Reduced if the car is brand new.

Lower than average due to the car's value.

Protecting your vehicle from theft or vandalism.

Reimbursing your own medical bills after a collision.

Paying for your car repairs after an accident you caused.

Covering medical expenses for someone injured while riding in your car.

A deductible is the total amount you must pay for covered services in a year, while an out-of-pocket maximum is a fixed cost you pay at the start of the year.

A deductible applies only to prescription medications, while an out-of-pocket maximum applies only to medical procedures.

A deductible is the amount you pay for services before the insurance company starts to cover costs, while an out-of-pocket maximum is the most you’ll have to pay during a policy period.

A deductible and out-of-pocket maximum are the same and can be used interchangeably in insurance plans.

Exclusive Provider Organization (EPO).

Health Maintenance Organization (HMO).

Preferred Provider Organization (PPO).

Comprehensive Coverage Plan (CCP).

It ensures Claire gets access to only the most expensive medical treatments.

It helps protect Claire from high medical costs by covering a portion of her health care expenses.

It guarantees that all of Claire’s medical treatments will be free of charge.

It automatically pays for non-medical services like grocery bills.

Uninsured/underinsured motorist coverage.

Collision coverage.

Comprehensive coverage.

Liability coverage.