R M I 300 Study Guide - Disposable And Discretionary Income, Middle-Earth Animals, Financial Instrument
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Lecture 4/ chapter life and health risks. Health care costs account for ~16. 2% of gdp and are increasing. Medical is inflating at a higher rate than regular inflation. Hospital care 31% physician & clinical 21% prescriptions 10% Administration 7% nursing home care 6% dentist services 5% Private health insurance 36. 7% fed gov. State and local gov 10. 5% other 3. 5% Total disability completely incapable of gainful employment during the time of disability. Partial disability decreased ability of gainful employment during the time of disability. Personal savings as a percent of disposable personal income has decreased to almost nothing <1% Lecture 5/ chapter 11, 22. 1 non insurance risk management techniques. Proactive avoidance (ex-ante) choose to avoid before you"re fully exposed to risk. Abandonment (ex-post) no longer exposing yourself to a risk. Loss prevention (pre loss) take various steps to reduce the probability of loss occurring. Loss reduction (pre/post loss) take various steps to reduce the impact of a loss.