Understanding the Basics of Insurance

Whether you’re a seasoned planner or just starting to dip your toes into the waters of financial literacy, this workshop is tailor-made to equip you with essential knowledge and strategies to navigate the complex world of insurance with confidence.

Schedule

Ice Breaker and Introductions (10 minutes)

• Welcome participants and introduce the topic of the workshop.
• Facilitate an ice breaker activity to encourage participation and build rapport among attendees. What is an insurance story you would like to share?

1. Introduction to Insurance (5 minutes)

• Define insurance and its role in financial planning.
• Explain the concept of risk management.

2. Types of Insurance (7 minutes)

• Provide an overview of common types of insurance.
• Highlight the importance of each type in protecting against financial risks.

3. Understanding Coverage (7 minutes)

• Explain the key components of insurance policies.
• Discuss factors influencing insurance premiums.

4. Choosing the Right Insurance (5 minutes)

• Provide tips for evaluating insurance needs and selecting appropriate coverage.
• Stress the importance of reviewing and updating coverage regularly.

5. Health Insurance and Healthcare (5 minutes)

• Overview of health insurance options and terminology.
• Importance of health insurance in managing healthcare costs.

6. Life Insurance Essentials (5 minutes)

• Explain different types of life insurance and their purposes.
• Discuss factors to consider when determining coverage needs.

7. Auto and Home Insurance Basics (4 minutes)

• Highlight mandatory and optional coverage for auto insurance.
• Overview of coverage options for homeowners and renters insurance.

8. Claims Process and Insurance Tips (3 minutes)

• Brief overview of the insurance claims process.
• Provide tips for filing claims and minimizing insurance costs.

9. Q&A Session (4 minutes)

• Open the floor for participants to ask questions and seek clarification on insurance topics.

Closing and Penny Forward Updates (5 minutes)

• Provide a brief update on Penny Forward initiatives, upcoming events, or resources related to financial capability.
• Recap key points from the workshop.
• Encourage participants to take action and apply what they’ve learned in their financial planning journey.
• Thank participants for their participation and invite them to connect for further assistance or resources.

Don’t miss out on this invaluable opportunity to empower yourself with the knowledge and tools needed to secure your financial future. Embark on a journey towards financial resilience and prosperity!

Join the Discussion

Penny Forward is inviting you to a scheduled Zoom meeting.

Topic: Penny Forward Members-Only Group Chat
Date: This meeting occurs every Wednesday
Time: 7:30 PM Eastern/6:30 PM Central/5:30 PM Mountain/4:30 PM Pacific

Join Zoom Meeting

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Meeting ID: 813 5294 4068
Passcode: 927140

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Hope to see you there,