Assignment 6: Insurance and Consumer Protection

Topics: Insurance, Term life insurance Pages: 4 (1318 words) Published: August 14, 2015
Assignment 6
(26 points)
Assignment 6: Insurance and Consumer Protection
Instructions

Save this file in your course folder, and name it with Assignment, the section number, and your first initial and last name. For example, Jessie Robinson's assignment for Section 1 would be named Assignment1JRobinson.

Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day, be sure to save your progress.

Review Lesson 4 of the Course Overview for instructions about turning in your assignments.

Assignment Questions

1. Think of a real or made up but realistic example of a pure risk that you or someone you know may face, and then answer the questions below.

a. Describe the specific risk. (1-3 sentences. 0.5 points)

Unemployment.

b. What sort of negative outcomes are possible for this type of risk? (1-3 sentences. 1.0 points)

No income.

c. Would this risk be likely to create unexpected expenses? Why or why not? (1-3 sentences. 1.0 points)

No, you are just unemployed, unless you were in an accident, sick, ect, you would most likely not have unexpected expenses.

d. Describe at least one way you could protect yourself against this risk. (1-3 sentences. 1.0 points)

Have money saved up in a savings account, so if anything like unemployment would arise you have money to live on until you find alternative income.

2. Think of a real or made up but realistic example of a speculative risk that you or someone you know may face, and then answer the questions below.

a. Describe the specific risk. (1-3 sentences. 0.5 points)

Medical accidents, for example hip replacement surgery.

b. What sort of negative outcomes are possible for this type of risk? (1-3 sentences. 0.5 points)

You cannot work for 6-9 weeks after surgery, which means no income.

c. What sorts of positive outcomes are possible for...
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