Insurance 1
Insurance 2
Insurance 3 & Taxes 1
Taxes 2
Taxes 3
100
Auto, vision, disability, medical, life, home owner's, dental, business, renters.
What are the types of insurance?
100
Males ages 16 - 25.
What is riskiest group for premiums?
100
A portion of the claim the insurance wants you to pay. Example: Insurance pays 90%; you pay 10%.
What is a co-pay?
100
A form you fill out _______when you _______ a ______.
What is... one time; start; and job.
100
Your employer *withholds* taxes and sends them to the IRS.
What is withholdings?
200
Insurer = company giving coverage. Insured = person covered by insurance.
What are the insurance parties?
200
The amount insurance wants you to pay before they start paying.
What is deductible?
200
Example: Car repair- $3000 (______) Deductible- - $500 (you pay ___________) ------- $2500 (_________)
What is claim; once per accident; insurance pays?
200
This is a form that allows your employer to take part of your paycheck as taxes and send it to the IRS.
What is W-4?
200
The part of your paycheck that is left AFTER deductions and withholdings; The amount you get to keep.
What is Take Home Pay / Net Pay?
300
What and how much is covered by insurance.
What is coverage?
300
Higher deductible = lower premiums. Lower deductible = higher premiums.
What is inverse relationship?
300
Example: Medical bill- $1000 Deductible- -$200 (you pay _________) --------- Balance- $800 Co-pay= 10% -$80 (_______) ---------- $720 (__________)
What is once a year; you pay; insurance pays?
300
Receive it annually from your employer. Summarizes earnings and withholds for the year.
What is W-2?
300
File once a year with the IRS. Due by April 15 for the previous year Example: Taxes for 2014 are due April 15, 2015.
What is 1040EZ Tax Return?
400
The monthly cost of insurance. You pay whether you use it or not.
What is premium?
400
Starts over every January.
When does deductible start over?
400
Federal income tax, sales tax, social security tax, unemployment tax, capital gains tax, state income tax, property tax, medicare tax, disability tax.
What is types of taxes?
400
You pay BEFORE deductions and withholdings.
What is Gross Pay?
400
Earnings, deductions and taxes withheld.
What does W-2 summarize?
500
Higher risk = higher premiums.
What is direct relationship?
500
When you ask insurance to pay because something happened. Examples: Got sick, car accident, theft, and house burned down.
What is claim?
500
Government agency that collects taxes.
What is Internal Revenue Service (IRS)?
500
Money deducted (subtracted) from your paycheck (insurance, retirement, savings).
What is Deductions?
500
If taxes paid > taxes owed. If taxes paid < taxes owed.
What is getting a refund of how much you over paid? What is pay more?
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