Foundations of Money Education Risk Management The Triangle of Life Wealth Additional Notes Insurance Types of Insurance A between two parties the and the The insurer provides for the of the insured that they may bear under The insured provides financial coverage in case of a Covers the costs associated with the after you have become a fees lost bank lender fees etc Identity Theft Insurance Property Casualty Insurance Common Types of P C Insurance Additional Notes Health Insurance Most people rely on their for healthcare coverage Input the letter A B C etc for each term next to its description Co Pay A Co Insurance B C D Deductible Premium Disability Insurance Annual limit you must reach before co insurance will pay a set of additional costs Monthly payment required to receive insurance coverage Payment required for a standard office visit The of expenses after the deductible is paid which insurance covers Provides money if a person is incapacitated due to or Typically short term is not needed if you have an adequate Long term can cover up to of your yearly salary Additional Notes Life Insurance Money to be paid to your upon your death Critical if family were to drop significantly due to Policies are the and you are Potentially coverage after having Earnings Multiple Approach Purchasing life insurance that covers to times your and is used to cover Needs Approach Purchasing enough to cover funds and or potential expenses debts and expenses Care needed on a for an of time Usually reserved for planning Not covered by regular insurance or Long term Care Insurance Estate Planning Last Will Testament Details your wishes on how your will be and following your death It also names a person to and appoints a for any minor dependents Living Will Also known as a it details your wishing regarding and in the event you cannot communicate your wishes Other Legal Documents Input the letter A B C etc for each term next to its description Limited Power of Attorney A Medical Power of Attorney B Financial Power of Attorney C D Letter of Instruction HIPPA Authorization E DNR F Additional Notes An agent makes medical decisions if you are incapable of doing so Patient s wishes if imminent death or non responsiveness occurs Non legal document provides personal info actions to be taken Allows hospitals and insurance companies to share medical info Power of Attorney but limited by a timeline or event An agent oversees your finances if you are incapable of doing so