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Chapters 7, 8, and 9 - Institutions

Chapters 7, 8, and 9 - Institutions. Chapter 7 – Insurance Companies Types of Insurance – Risk Transfer Life Term, Whole Life, Universal Health Medical, Dental, Disability and Long-term Care Property and Casualty Auto House Business Investment Products Annuities and GICs.

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Chapters 7, 8, and 9 - Institutions

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  1. Chapters 7, 8, and 9 - Institutions • Chapter 7 – Insurance Companies • Types of Insurance – Risk Transfer • Life • Term, Whole Life, Universal • Health • Medical, Dental, Disability and Long-term Care • Property and Casualty • Auto • House • Business • Investment Products • Annuities and GICs

  2. Chapters 7, 8, and 9 - Institutions • Chapter 8 – Investment Companies • Opened Mutual Funds • Load and No-Load • Stocks, Bonds, Indexes, Blends, etc. • Closed-End Mutual Funds • Limited number of shares • Large Growth in 90s • IRAs, 401(k)s, 403(b)s, etc. • Household shift from real estate to financial assets

  3. Chapters 7, 8, and 9 - Institutions • Chapter 9 – Pension Funds (Foundations) • Defined Benefit versus Defined Contribution • Dollars defined at time of contribution and individual directs management of funds • Dollars defined at time of retirement and “company” directs management of funds • Social Security – Largest Pension Fund • PERS – Most Complicated Pension Fund • ERISA – 1974 • Minimum funding standards, fiduciary standards, vesting standards, and PBGC (insurance)

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