Finance Matrix Essay

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Appendix F: 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 |Auto Insurance defends your vehicle against |Nationwide, GEICO, State Farm, Progressive, Allstate, |Auto Insurance assists you in paying for damages to |
| |responsibility and property dangers. |AAA |your own vehicle and to the other person’s. This also |
| | | |makes sure personal injuries that happened in an |
| | | |accident or collision are insured. It reduces the |
| | | |responsibility for asset dangers, as well. |
|Home |This kind of insurance coverage defends against |AAA, State Farm, Liberty Mutual, Geico, Nationwide, |Assists to protect or decrease the sum of damage from |
| |responsibility as well as property dangers of a home. |Progressive, Allstate |things like fire, burglary, or floods, Decreases the |
| | | |sum upfront. |
| | | | |
|Health |A typical health insurance plan provides four primary |Kaiser, Tricare, Humana, BlueCross, Blue Shield, |Health insurance covers the cost of medical or |
| |functions: provisions for routine care, emergency |Medical |hospitalization care as a result of an illness or |
| |medical assistance, chronic condition treatment, and | |injury that occurs or is manifested while the policy is|
| |pharmaceutical care. | |in force. Like other kinds of insurance, the benefits |
| | | |are payable in return for the insured paying a premium.|
| | | | |
|Disability |Disability insurance protects against the loss of |Short-term: Aflac |It provides a source of replacement income, for a |
| |income due to disability. | |stated period of time. When the insured is unable to |
| | |Long-term: Nationwide |work because of an
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