Insurance
What does collision cover the other driver's car?
nada, nic, nothing
The price you pay for insurance:
premuim
Tax on the things we buy (another word for sales tax):
consumption tax
percent paid by both employee and employer for social security & medicare:
7.65
What does 50/100/25 auto coverage mean?
liability per person, per occurance, prop damage
You see the doctor for a checkup and pay $25 on the spot. What is this called, and does it count toward your deductible?
copay -- no
but it goes toward annual OOP
Type of life insurance that is a combination of whole life and term life:
universal life
A standard IRS April 15th filing extension extends deadline until:
October 15
The type of tax paid for investment profits:
What is capital gains tax?
Tax paid on real estate:
What is property tax?
$2000 of your possessions are stolen from your apartment. Some of those were typically not covered but you had purchased this ____________, which covered those items.
rider
Insurance is designed to __________________ in the case of a loss/claim: (a few word phrase will cover it)
mitigate or help offset the loss - but not usually 100% covered
Does the IRS report to credit agencies?
Yes ** No ** Sometimes
No
This document is a statement of your annual earnings which is produced by your employer:
w-2
Expressed as a percent, this is the part of the insurance you pay before the insurance company pays:
coinsurance
The legal and insurance process where your insurance company pays for your covered losses, then "steps into your shoes" to recover those funds from the at-fault party or their insurance.
negotiation ** subrogation ** amortization ** adjustment
subrogation
Darnit, left my cassettes, new Eddie Bauer clothes, and my Polaroid in the car, and someone grabbed it all! What part of my insurance policy would pay this claim?
Tricky! NOT CAR insurance. Homeowner's or renter's would cover it.
THIS is a form you fill out when you start a new job - it determines withholding amount:
What is a W-4?
This reduces your taxable income:
What is a deduction?
This four-letter word is the core concept of insurance, both for the insured and the insurer:
RISK
The part of an insurance policy that would cover medical bills for the driver (the policy holder)
medical payments
What is the federal law grace period for auto insurance payments?
30 days ** there is no such law ** 60 days ** 10 days
no law
Also known as the payroll tax:
social security (and medicare) tax
schedule
Something not covered by an insurance policy (stated up front):
exclusion