Essay on Matrix: Health Insurance

Submitted By brookebruno26
Words: 958
Pages: 4

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 |Covers “theft risk”, Covers damages and costs in case |Liablity is basic insurance that is cheap and covers |State Farm, Geico, Allstate. |
| |of accident, Covers any injuries, death, or health |damages to the car that was hit, and the car that was | |
| |problems that arise from the accident. |driven. Collision insurance protects your car in case | |
| | |of an accident, and the insurer will cut you a check | |
| | |for the value of the car wrecked. Comprehensive | |
| | |insurance covers anything that happens to your car, | |
| | |like a fire or a flood. | |
|Home |Home insurance covers your belongings in case of a |Dwelling insurance covers the house in case of a flood,|State farm, Liberty Mutual, American Home Sheild. |
| |fire, or flood. Covers the house itself in case of an |or hurricane. Personal liability covers one in case of | |
| |accident or emergency. Also, usually covers other |a lawsuit due to injury on the property. Medical | |
| |things such as a garage. |payments covers any medical costs due to injury on the | |
| | |property. | |
|Health |Covers any injuries that someone receives in any |Can cover all of the costs, such as prescriptions, |Paramount advantage, Blue Cross, United. |
| |instance. Covers doctor check ups, and dentist visits. |visits, etc. Some insurance only covers some of it, | |
| | |requiring patient to make copayments. Some require | |
| | |deductibles meaning each year a payment has to be made | |
| | |before the company will pay for anything. | |
|Disability |Covers an employee’s salary in case of sickness, or an |Short-term: |Metlife, Mutual of Ohama, Some…