• This is an educational presentation only. • All examples are for illustrative purposes only. • Guide to Financial Management is a “take home” tool.
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Covers you and your possessions in an apartment, a condo, a rented house, government quarters, the barracks and even on a ship.
Three out of four people do NOT have this coverage, but if you move, keep items in storage or in your car, you NEED it.
Financial Security
1. Protecting Yourself
2. Managing YOUR Money
3. Planning for the Future
Insurance
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Parts Of An Auto Policy
• • • • • Liability Medical expense Uninsured/underinsured motorists Comprehensive Collision
Renters Property Insurance
• Covers property
– Stolen – Damaged by fire, vandalism, lighting, hail, wind, smoke, explosion, power surge etc.
• Average annual premium: $150–$200 • Named Perils vs. All Risk • Actual Cash Value vs. Replacement Cost
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Renters Property Insurance
A type of homeowners insurance that covers your personal property and your personal liability (including your pets) WORLDWIDE.
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Price vs. Liability Limits
$860(s) / $688(m) 15/30/10 $1027(s) / $819(m) 100/200/50 Location: San Diego, CA $1099(s)/$875(m) 300/500/100
2010 Honda Accord 6-month premium 23-year-old male with 7 years driving experience Minimum coverage, clean driving record $500/$1000 deductible VA requires: 25/50/20
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Price vs. Type Of Vehicle
Both 23 years old
2010 Chevrolet Corvette 2010 Honda Accord
Male $750 $596
Female $596 $477
6-month premium Jacksonville, Florida
• Dependency and Indemnity Compensation (DIC)
• Survivor Benefit Plan (SBP)
• • • • •
• Spouse receives for life (unless remarries prior to age 57) • Child receives until age 18 (23 if in school) • Tax-Exempt No cost while on active duty 0 Benefit is 55% of Base Amount (75% of High 3 Average) Spouse receives for life (unless remarries prior to age 55) Reduced by Amount of DIC for Spouse Taxable Based on service member’s earned income Spouse receives until youngest child is age 16 Child receives until age 18 (19 if in school) May be taxed or reduced depending on other sources of income
Financial Management
Larry Diddlemeyer Captain, US Navy (Ret)
The USAA Educational Foundation
A Nonprofit Organization
• Does not endorse or promote any commercial supplier, product or service, nor does DOD or the U.S. Coast Guard.
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Price vs. Driving Record
$631
Clean
$861
2 tickets
$1178
2 accidents
$1749
Drunk Driving
Location: Ft. Benning, Georgia 2010 Honda Accord 6-month premium 23-year-old male Minimum coverage $500/$1000 deductible
• Provides income source for your survivoபைடு நூலகம்s • SGLI may be enough: • Spouse coverage: • Children Coverage: $400,000 $100,000 SGLI $10,000 per child
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Active Duty Survivor Benefits
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Renters Liability Insurance • Pays others for:
– Damages you cause – Injuries you cause
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Life Insurance
• Covers your debts
– Funeral expenses – Outstanding bills