For each type of insurance listed in the matrix, identity three functions, three coverage characteristics, and three companies that offer this type of insurance. |Type of Insurance |Functions |Coverage Characteristics |Companies That Offer It | |Auto |Protects the client from finiacial loss. |Some characteristics that come with auto insurance, is |State Farm insurance | | |Cover client for medical expenses. |liability, proper damage, medical injury or also known |All State insurance | | |Covers Client for liability expenses. |as personal injury protection. |The General Insurance | |Home |Your investment will be protected.
|Property insurance which covers private houses. |Erie insurance | | |Good price for a premium for home owners. |Different types of coverage or protections. |Progresssive | | |Cut back on stress on home owners insurance when it |Covers liability. |The Hartford | | |comes to the conditions of your home. | | | |Health |Health insurance copay. |(PPO), Perffered provider option health care and |Aetna | | |Health insurance to save you on paying a larger cost on|insurer’s netowork of providers, pre negotiate fees. |Cigna | | |the coverage. |(HMO), form of managed care with a montly fee. |Gesigner (I have this and it is great!) | | |
Provide you acess of discounted medical care. |Fee for service, Health care provider billing your | | | | |insurance. | | |Disability |Pays you a monthly fee. |Short-term: 40-60% of Salary coverage for 3 to 6 |AIG | | |Help with monthly bills such as mortage and household |months. |Metlife | | |bills | |Berkshire | | |Pays for gap and medical coverage. |Long-term: 50-60% of salary coverage and can last for | | | | |years until you go back to work. | | | | | | | |Life |Provides funds for family survivors. |Term Life: Provides coverage for a fixed rate for a |Global Life | | |Help pay for costs of death.
|lmited period of time. |State Farm | | |Provides money to a certain coverage period. | |All state | | | |Whole Life: A common insurance plan, a yearly fee and | | | | |continues for the insurer’s whole life. | | Directions – Paper Then in a 350-to 700-word paper, explain what the differences are between insurance and social assistance programs, providing at least two examples of each. Then compare and contrast either auto and health insurance OR disability and life insurance, making sure to reference (where applicable) deductibles, premiums, coverage, and co-payments.
The difference between insurance and social assistance programs are social insurance is funded by taxes or premium paid by clients for example such as Medicare. The social assistance program is funded by the state (federal government). For example the Pennsylvania assistance program. Some popular examples for the assistance program our, (tanf) Temporary Assistance for Needy Families and (snap) Supplemental Nutrition Assistance Program which is to aid families for depend children and food stamps.
Payments in social insurance programs are related to previous contribution to programs while payments in income assistance programs are not. For example some social insurance programs are unemployment and social security which compensates for benefits funds from taxing a segment of society. Some example of the assistance program (SSI) supplementary security income is available for people who are blind disabled or if your age is over 65 who show they are in need of something. Countable resources maybe under $2,000. 00 but does not include home or car furnishing or burial plot.
Some more different things with insurance and assistance when insurance clients buy into the pool and have billions put on claims. When public assistance is paid for by the tax payers and has no money put aside for future claims. Insurance companies have a bigger network then the assistance program because health care professionals are not willing to accept the discounts offered. Comparing disability and life insurance are a same in one way because you are getting money because of something that has happened (either because your disabled or because of a death in the family).
Some of the contrast is the differences in cover characteristics for example in disability they compare two different types of coverage long and short with life insurance there are also two different types of coverage but is something that doesn’t even relate to comparing them. Life insurance has two different types that contrast with disability insurance term life and whole life. Disability pays you a monthly fee on the their hand life insurance policies can send you a onetime check or you can setup a disbursement. Both Disability and life insurance are tax deductible, however for medical and dental premiums are only tax deductable.