insurance basics
This is the amount of money the insured person must pay out of pocket before the insurance company starts paying for a covered loss.
What is a deductible?
After a minor collision, a driver needs medical treatment but does not want to wait for the at-fault driver’s insurance to pay. This type of auto insurance coverage pays for their medical bills right away, no matter who caused the accident.
What is personal injury protection?
A fixed fee paid for a specific service(ex:doctor visi)
what is Co payment?
Offers protection at your residence or anywhere in the world from covered loss (ex:lighting, wind, fire ,theft)
What is renters policy/insurance?
Insurance limit
What is the maximum amount of money your insurance will pay for a covered claim or specific type of loss?
The maximum amount of money an insurance company will pay for a covered claim.
What is limit?
5 factors of auto insurance rates
What is Deductible, Vehicle, Mileage, Driving history, personal informatio?
PPO insurance stands for
What is Preferred Provider Organization
Two types of renters policy/insurance
What is property and liability coverage?
What factors of a vehicle effect auto insurance
Vehicle model, type and cost(worth)
A person who calculates insurance and annuity premiums, reserves and dividends
What is a actuary
Carol has to pay more auto insurance that her dad, who has more years and experience driving.
What is an example of age affecting auto insurance.
The maximum amount you have to pay for covered healthcare services annually.
What is out of pocket maximum?
Lindsay went on vacation just to come back to her house that had been ransacked. She lost her tv laptop and some money from her safe. What renters insurance coverage would she use.
What is Property coverage?
Being protected by uninsured drivers
What is Uninsured/underinsured motorist coverage?
Possibility of loss, damage or injury that lead to a insurance claim.
What is risk?
The state of Florida requires $10,000 and $10,000 in damage and injury
What is the Florida maximum auto insurance coverage requirement?
Joint federal and state program providing free or low cost health coverage for low income families/individuals.
What is Medicare?
Marc’s friend Bertha slipped on his wet floor and broke her wrist. How will mark cover Berthas medical bills.
What is Liability coverage?
Medicare
What is a federal healthcare insurance program for people 65+ or older people with certain disabilities?
a formal request by a policy holder to an insurance company for payment or coverage after a loss or covered event
What is a insurance claim?
Maria was distracted and hit a car infront of her she should demand the other driver to utilize this auto insurance coverage
What is liability
A health insurance plan that restricts coverage to in-network doctors with a mandatory specialist referral.
What is HMO?
George walked home with Alexandra. Couple hours into hanging out at his house George’s house catches fire. Alexandra breaks her leg while leaving the house. What coverage is George gonna use to help pay after this unfortunate event.
what is both Liability and Property coverage
What does HMO do
Restricts coverage in net work doctors, requires PCP and specialist referral