Financial Services _Çô Client Services RFC121 Lecture Notes - Lecture 8: Long-Range Planning, Home Insurance, Property Insurance
Document Summary
Chapter 6 choosing a source of credit. Chapter 9 - life, health, and disability insurance. Last class - stopped at critical illness / long term care / ending care. A pool of money, and you share the risk. Home 500,00$ you must insure minimum 80% of the value of the home. Replacement value most people have coverage based on this. Depreciated insurance more heavily weighted on depreciated value. Subrogation the i(cid:374)sura(cid:374)(cid:272)e (cid:272)o(cid:373)pa(cid:374)y(cid:859)s right to re(cid:272)o(cid:448)er the a(cid:373)ou(cid:374)t it pays for the loss fro(cid:373) the person responsible for the loss. Insured a person covered by an insurance policy. Personal risk the uncertainties surrounding loss of income or life due to premature death, illness, disability, old age, or unemployment. Property risks are the uncertainties of direct or indirect loses of property due to fire. Liability risks are loss possibilities due to negligence resulting in bodily harm or property damage to others: automobile, professional misconduct, injured on property.