Well to help answer some of these questions and give the community a better understanding, i will use Life Expectancy graphs. As all of us know, these graphs are a major use in our field to determine different types of risk; so that we can manage it.
Life Expectancy graphs are used to show a person life expectancy according to their lifestyle. They could be made towards a particular person's lifestyle or towards a group or population of specific people; take smoking for example.
(smoking male graph)This graph shows you the probability, at your current age, to make it to either 60, 70, or 80.
Some of you smokers out there might think or feel that this is okay or pretty good. Well actually its not compared to people that do not smoke. This is what insurance companies look at when they determine how much your premiums are going to e monthly or annually. Now here is graph of non-smoking males to let you get a better understanding.
(non-smoking graph)
This graph shows the same thing however is directed towards non-smokers. it looks a lot better.
Even though I used the same graph, they each showed something different. This shows us how important these graphs are used in our field. Hopefully after using the probability graph to answer some of these questions, the citizens, retirees and community will have a better understanding. Life expectancy is the largest risk factor that insurance companies look at.
For those of you who might not know me, my name is Adrianna Stephens and I am studying Actuarial Science. I will be attending the Riverhead Town Hall once a month for the next three months or so to discuss life insurance with some of the Seniors and soon to be retirees in town. I will be discussing and answering the most common questions about life insurance in my presentation. Using different types of probability graphs to show why life insurance may cost so much and why different people may receive more. I will explain to the audience their potential loss and the companies potential loss to help them get an understanding to a variety of their questions and curiosities.
7 comments:
a) the intended audience is senior citizens, are people who are about to retire.
b)answering most common questions about health insurance, why some people recieve more money, or why it cost alot of money.
c)the probability graphs will show and explain the concept easier, and more organized to the audience.
d)i think it's a good idea and start i don't see any problems.
e)the material def. relates to the topic and to the audience. the scenario sounds like it's a good idea too.
f) what kinds of graphs are you going to use or charts? bar graphs, line graphs etc;
g) i think you have a really good start and ideas. i think your topics makes alot of sense and presenting them to your audience will help them understand the concept alot better.
a) the intended audience is senior citizens and retirees
b)life insurance and why it will be diffrent for some
c)graphs help explain the concept easier, allowing fior better understanding
d)No problems? looks really goood.
e) the information is very relevant becuase they are about to retire and this is something they are interested in.sounds really good.
g)i'm jealous! it looks really good so far!
a. The intended audience for this project are people who are about to retire and senior citizens.
b. The concept being explained is life insurance and why it differs in prices between people.
c. The visual graphs ill simplify this concept and make it easier for the audiences to understand.
d. I don't see anything wrong I think that you have a great idea for the visual.
e. The information is relevant because it is explaining a life insurance concept to the group it concerns the most.
f. Go back to the proposal and specify the kinds of graphs you want to use.
g. I think you have all your ideas down and there seems to be no confusion. I think your proposal is very organized and it sounds like you will get your message across very well.
a) intended audience is senior citizens and people who will retire soon
b) The concept is to show just how health insurance works and why it is important to know
c) visual graphs will help show why things are important
d) I think it looks good
e) It helps familiarize the elderly and lets people know what they should do next
f) Show good, relevant graphs
g) looks really good, good idea
i think your visual is less complicated before and it's a really good idea. i like the use of excel to present your information visually. your overall idea is great.
IMAGE:
I would compare the two graphs, which is probably your plan anyways. But the one i saw was good in the fact that it was easy to read and got the info across easily.
Image: You graph looks good. I feel that if you have too much information and want to show more points you should also add maybe some charts. Try to stop at the star lab and see if they can help you.
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