The question is in the attachment .
Lesson 3.4: Insurance Name: Click here to enter text. Automobile You are an insurance agent and will be giving advice to one of the following clients about different Insurance insurance policies. Read about their lives and pick one character to work with for this assignment. Health Assume your person currently has no insurance of any kind, so you are starting from scratch. Insurance* *Nothing needs Type of Coverage: All Medical No deductible LUCIA DEVIN VAUGHN to be selected for health insurance Lucia is a 24year old graduate Vaughn is a 35year old carpenter. Life student. She owns very little, Devin is a 42year old firefighter. He He has had trouble finding a fulltime with the exception of an old recently bought a home with a Insurance job, but always manages to get some family car, valued at about mortgage, valued at about parttime work. Devin and his wife of 1. List the level of coverage ($)* List the Type(s) of Coverage 1. For each type of coverage, list the level of $1,000, which gets her from her $400,000. His family includes a wife four years own a modest home with Select type(s) of Coverage: coverage ($)* Click here to enter text. apartment to campus and back. and newborn daughter. Devin's wife a backyard swimming pool, valued at Choose an item. selected: Click here to enter text. Lucia is not married, nor does enter text. Click here to recently left her job so that she about $150,000. In his garage, 2. In a complete sentence, explain why you she have any children. She could care for their daughter full Vaughn has a large collection of 2. Decide on a Deductible Amount for the chose this type of coverage and amount for works a parttime job during the time. They own a few particularly policy (from $0 to $500)* your client. woodworking tools, valued at about Click here to enter text. day that covers rent and bills. valuable items, including pieces of here to enter text. Click $10,000. His wife works fulltime and She attends her graduate jewelry and highend equipment in a makes a good steady income which * Keep in mind that the higher the level of classes at night, where she home theatre. These are valued at coverage and the lower the deductible, the supports the couple and pays the studies archaeology. She has about $100,000. Devin just got a higher the premium your client will need to bills. They have two schoolaged pay for the policy. her own collection of antique raise and purchased a brand new children. Vaughn drives a pickup books she's collected over the sports car for $40,000. 3. In a complete sentence explain why you truck that he has owned for a few chose this type(s) of coverage, the levels of years, valued at about $10,000. years, valued at about $12,000. coverage and deductible amount for your It's a year later. Your client has gotten into an automobile accident. No one was injured but client. the car was totaled. This means that the repair/replacement costs of the car are equivalent to Click here to enter text. Car Accident! the value of the car. The driver of the other car caused the accident by running a red light and The person you selected is: Choose an item. only has the minimum $10,000 in liability coverage. Homeowner's Part 1: Choose Insurance Insurance Consider the circumstances of your client's lifestyle. Based on what you know, determine whether 1. For each type of coverage, list the level Name the type(s) of Coverage: your client should or should not purchase automobile, homeowner's, health, and/or life insurance, Part 2: Insurance Calculations text. of coverage ($)* Click here to enter and justify your choices in the table below. Click here to enter text. Give a financial assessment of the damages and who will be responsible for what portion of them by For each type of insurance selected, look at the options provided and decide which type(s) of answering the following questions: 2. Decide on a Deductible Amount (from $0 coverage should or should not be included in the policy. Again, you will need to explain your to $2,000)* 1. What is the value of the financial damage done to your client's car? reasoning. Click here to enter text. * Keep in mind that the higher the level Click here to enter text. Finally, consider the monetary aspects of each insurance policy. Select what you think is the most of coverage and the lower the appropriate level of financial coverage for your client and, when applicable, the deductible amount. 2. How much of the damage will be covered by the insurance company of the driver who was at deductible, the higher the premium your Round values to the nearest $100, $1,000, $10,000, or $100,000, as appropriate. client will need to pay. 2. In a complete sentence, explain why you chose this type(s) of coverage for your client and deductible amount. Click here to enter text. fault for the accident? Click here to enter text. 3. Will your client need to pay anything outofpocket? If so, how much? Click here to enter text. 4. How much of the damage will be covered by your client's insurance company? Click here to enter text. Part III: Analyze Insurance Now it's time to analyze the automobile insurance policy purchased, which was based on your advice. Answer the following questions in complete sentences. 1. Do you think your client had an appropriate level of coverage and an appropriate deductible in the automobile insurance policy? Why or why not? Click here to enter text. 2. How might the financial consequences of the accident been different if your client had a different (higher or lower) level of coverage in the policy? Click here to enter text. 3. How might the financial consequences of the accident been different if your client had a different deductible (higher or lower)? Click here to enter text. Rubric Category Excellent Good Satisfactory Needs Improvement Insurance Calculations All of the insurance choices were reasonable and logically explained based on the character's circumstances. (16 points) Most of the insurance choices were reasonable and logically explained based on the character's circumstances. (15 - 11 points) Some of the insurance choices were reasonable and logically explained based on the character's circumstances. (10 - 6 points) Few of the insurance choices were reasonable or logically explained based on the character's circumstances. (5 - 1 points) Use Insurance All parts of the financial assessment of damages were accurate based on the character's car value and insurance choices made in Part I. (4 points) Most parts of the financial assessment of damages were accurate based on the character's car value and insurance choices made in Part I. (3 points) Some parts of the financial assessment of damages were accurate based on the character's car value and insurance choices made in Part I. (2 points) Few parts of the financial assessment of damages were accurate based on the character's car value and insurance choices made in Part I. (1 point) Analyze Insurance All questions were answered completely with supporting evidence. (8 points) Most questions were answered completely with supporting evidence. (7 - 6 points) Some questions were answered completely with supporting evidence. (5 - 4 points) Few questions were answered completely with supporting evidence. (3 - 1point)
