Insurance Selection Paper Decide upon which insurance options you want to buy Paper should clearly indicate each of the eight insurance options and explain why you did or did not chose to purchase the insurance Finally, provide a brief explanation about how the insurance selections have affected your budget selections If your car insurance is higher than what is included here, use the car insurance premium you currently pay Paper is worth 100 points and is due Monday, October14 th Insurance Options Term life insurance (5 times gross income) Cost $25 per month Long term disability insurance (will pay 60 of your gross salary if you cannot work in your own occupation up to age 65 3 month waiting period before benefits start) Cost 1 of gross salary per year Short term disability insurance (will replace 100 of your gross income if you cannot work or become ill Salary replacement will last up to 3 months maximum) Cost $50 per month Health insurance pays for all preventative exams and immunizations Pays 80 of all other expenses including Dr bills and prescription drug costs Cost $500 per month Assume that you are too old and can not be covered by your parents medical insurance policy Dental insurance pays for all dentist bills including braces for minor children Cost $50 per month Car insurance pays to replace car if damaged in an accident Compensates the people you injure in an accident up to $300,000 Cost $50 per month Homeowners renters insurance replaces your personal property in case of fire or theft Pays to rebuild the residence and temporary living expenses Cost 1 of your home value or annual rent Umbrella liability coverage pays any time you are sued for up to $2 million each time Cost $500 per year (Must have auto and homeowners renters insurance to be able to buy this ) Grading Rubric for paper Organization of paper Up to 20 points Responding to each insurance option Up to 20 points Supporting your decision on why you would or would not get each insurance policy Up to 40 points Spelling, grammar, capitalization, punctuation, and word choice Up to 20 points Incorrect information or calculations Up to 10 points each Failure to follow directions Up to 10 points Failure to include a summary of what insurance was purchased and the total $ amount Up to 10 points Late work 10 points per day

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Insurance Selection Paper Decide upon which insurance options you want to buy. Paper should clearly indicate each of the eight insurance options and explain why

Insurance Selection Paper

Decide upon which insurance options you want to buy.

Paper should clearly indicate each of the eight insurance options and explain why you did or did not chose to purchase the insurance. Finally, provide a brief explanation about how the insurance selections have affected your budget selections. If your car insurance is higher than what is included here, use the car insurance premium you currently pay. Paper is worth 100 points and is due Monday, October14^th.

Insurance Options:

Term life insurance (5 times gross income).Cost $25 per month
Long-term disability insurance (will pay 60% of your gross salary if you cannot work in your own occupation up to age 65. 3 month waiting period before benefits start). Cost 1% of gross salary per year.
Short-term disability insurance (will replace 100% of your gross income if you cannot work or become ill. Salary replacement will last up to 3 months maximum). Cost $50 per month.
Health insurance pays for all preventative exams and immunizations. Pays 80% of all other expenses including Dr. bills and prescription drug costs. Cost $500 per month.Assume that you are too old and can not be covered by your parents medical insurance policy.
Dental insurance pays for all dentist bills including braces for minor children. Cost $50 per month.
Car insurance pays to replace car if damaged in an accident. Compensates the people you injure in an accident up to $300,000. Cost $50 per month.
Homeowners/renters insurance replaces your personal property in case of fire or theft. Pays to rebuild the residence and temporary living expenses. Cost 1% of your home value or annual rent.
Umbrella liability coverage pays any time you are sued for up to $2 million each time. Cost $500 per year. (Must have auto and homeowners/ renters insurance to be able to buy this.)

Grading Rubric for paper:

Organization of paper. Up to 20 points

Responding to each insurance option. Up to 20 points.

Supporting your decision on why you would or would not get each insurance policy. Up to 40 points.

Spelling, grammar, capitalization, punctuation, and word choice. Up to 20 points.

Incorrect information or calculations. Up to -10 points each.

Failure to follow directions. Up to -10 points.

Failure to include a summary of what insurance was purchased and the total $ amount. Up to -10 points.

Late work. -10 points per day.