Insurance Matrix

Topics: Term life insurance, Permanent life insurance, Whole life insurance Pages: 2 (625 words) Published: July 7, 2013
Gabriel Reyes|
Insurance Matrix|

University of Phoenix Material

Insurance Matrix
Directions – Matrix
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| 1.Loss2. Damage.3.Accident(Collision)| Liability insurance for those involved in an automobile accident including vehicle damage and bodily injuries.| NationwideGeicoAllstate| Home| Compensation for the policy holder in case of fire, vandalism, or natural disasters.| Types of characteristics would be dwelling, loss, and personal liability.| USAAAmica MutualAllstate| Health| Insurance for routine checkups, pharmaceutical care, and emergency medical assistance| Hospital coverage, outpatient visits, home care, and prescription drug coverage.| Keystone Health Plan EastBlueCross Blue ShieldMedicare| Disability| Benefits paid to disable people.Medical Coverage for disable.Disability coverage is Tax-free| Short-term: 6months-2years of coverage from 80 to 100% of the person’s salaryLong-term: Five years minimum, most cases till the person’s turn 65 years old. 70% coverage on their salary | Mass Mutual Financial GroupThe HartfordAIG| Life| Coverage for the loss of a family member.Financial Stability.Policy is paid to the living spouse.| Term Life: Term life insurance provides coverage with flexibility and ends at a predetermined ageWhole Life: Whole life insurance, also known as cash value insurance, pays a predetermined amount upon death in return for a standard monthly or annual payment.| Mutual of OmahaMetLifePrudential|

Insurance and Social assistance programs are similar because they were both made to assist people in many ways. The main difference between insurance and social assistance is that with...
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