RMIN 4000 Lecture Notes - Lecture 4: Tax Deduction, Disability Insurance, Group Insurance

• School: University of Georgia
• Department: Risk Management and Insurance
• Course: RMIN 4000
• Professor: Pottier

Document Summary

Seniors 80 and older have the highest rate of fatal crashes per mile driven. Illinois is the only state to make people retake their license test when you are old. Doctors think certain people shouldn"t be driving anymore, the physician can send a letter and make that person take a test. Low credit scores are more likely to get into an accident. Cali doesn"t allow the use of credit scores when setting rates. Review: 16 questions similar to the pages up front (lose scenarios) Covered auto- definition, specifically list and temp vehicles. Have to list it to have coverage. Tax advantages- tax deduction on medical insurance from employer: but not life insurance deduction. Employer gets to deduct no matter the insurance. Group insurance- you do not have to provide evidence and go through questions: but individual you do. Noncontributory- employee pays 0, employer pays 100.