management 5

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COBRA

extension of your health insurance coverage if you leave a job

very expensive
flexible spending account

money taken out of your paycheck, pre tax, that can be used for co pays, deductibles and prescriptions
Types of insurance

term

universal

whole
term insurance

provide a lump sum in the event of death, coverage for a limited number of years

pay specific unchanging premium that provides coverage for a specific number of years

does NOT accumulate cash value
universal insurance

provide permanent insurance coverage with a greater flexibility of premium

more expensive than term and includes a cash value

growth of cash is not fixed becuse no set schedule of payments
whole insurance

most expensive

guranteed death benefits and cash values and fixed annual premiums

cash can be accessed at any time through loans
student loans that cannot be consolidated

private loans

parent PLUS