Office of Labor Relations Office of Labor Relations



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1. You bought life insurance, but have already lived a long life and it has not been used. What should you think?

A) This is a waste of money. I can use those premiums to pay expenses.

B) I can invest this money in a savings plan.

C) Life Insurance gives me and my family peace of mind. If I die, it will provide funds to repay the mortgage, pay for the children's education and generate income to replace my paycheck.



2. What is my most important asset and how can I protect it?

A) My home or apartment

B) My car

C) My Income



3. I rent an apartment. Should I buy renter's insurance?

A) It is not necessary. I don't own the building so the landlord is responsible for any damage.

B) I know it is a good idea but I don't know where to start.

C) I don't think so. I never had any problems in the past.



4. I am thinking about my future and aging. I am independent and want to remain in my home. I see relatives that want to be independent but are having difficulties with daily activities like dressing, washing, getting out of bed. Should I think about my own situation?

A) No. Don't worry because Medicare will pay for home assistance.

B) I should investigate Long Term Care Insurance

C) I am not concerned. My children will take care of me.



5: I have car insurance. Last week I drove to the supermarket for some errands and was hit by a car. The driver did not stop. Who will pay for my expenses?

A) Sadly you are the victim of a hit-and-run accident, nothing can be done

B) You are covered under the Uninsured/Underinsured Motorist Coverage

C) You are covered under Part B: Medical Coverage



6: I do not own a car and plan on renting one on my next vacation in Florida. Am I covered if I have an accident?

A) Insurance is included in the rental agreement at no extra cost

B) I am not sure. I had better call an insurance company and credit card company. I should also call the car rental company.

C) I think so, but it doesn't matter because I am a very safe driver




For more information, call a Certified Financial Planner professional at the Deferred Compensation Plan at 212-306-5050. Our Planners are there to answer your questions free of charge. They do not sell any products and do not work on commission. You may want to consider attending our seminar "Protecting Your Family Through Insurance Planning." Visit the Plan's website to view a calendar of free seminars available through the Deferred Compensation Plan.

http://www.nyc.gov/html/olr/html/deferred/dcp_seminar_calendar.shtml