Auto Ins.
What does liability coverage pay for?
Injuries or damage you cause to others
What does home insurance primarily protect?
The home, belongings, and liability for accidents
What does a copay mean?
The fixed amount you pay for a doctor visit or prescription
What is life insurance designed to do?
Provide money to your family when you pass away
What does travel insurance usually cover?
Flight cancellations and lost luggage
Collision coverage pays for what repairs?
Your car if you hit another car or object.
When do you need renter's insurance? Bonus: What does renter's insurance protect?
Renting an apartment.
Sometimes landlords require it.
Bonus: Your personal belongings
What is the purpose of health insurance?
To help cover medical costs and protect you from high bills
What is term life insurance?
Coverage for a specific period of time
What might trip cancellation coverage reimburse you for?
Canceling your trip due to illness or emergency
What is a deductible?
The amount you pay before insurance covers the rest
What is liability coverage in a homeowner’s policy?
Covers other people’s injuries on your property
What is a premium in health insurance?
The money you pay each month to have health insurance coverage.
How many life insurance policies can you have at one time?
As many as you'd like.
What situation is a good example of when travel insurance would be helpful?
You lose your luggage while flying to another country.
To cover emergency medical expenses while traveling
Which is one thing that WILL affect the cost of your auto insurance?
Age
Driving History
Type of Car
Your Grades / GPA
Gender (Males are higher)
Marital Status (Married people typically don't do the crazy stuff singles do)
Which type of damage is not usually covered by a standard home insurance policy?
Flood Insurance
Health insurance helps pay for...
...doctor visits, hospital stays, and prescriptions.
The person who receives the insurance payout is called the...
Beneficiary
What is travel delay coverage used for?
To pay for extra expenses if your trip is delayed, like meals or lodging
What is an insurance claim?
A request you make to your insurance company to pay for a loss or damage
Today, most home policies have a ____% deductible of the home's value.
1% of the home's value
Where do you get health insurance from?
1. Employer-Sponsored Health Insurance
Many full-time jobs offer health insurance as a benefit.
Employers often pay part of the premium.
Example: large companies, school districts, government jobs.
2. Government Programs
Medicare – For people 65+ or with certain disabilities.
Medicaid – For low-income individuals or families (eligibility varies by state).
CHIP (Children’s Health Insurance Program) – For children in families that earn too much for Medicaid but can’t afford private insurance.
Veterans Health Administration (VA) – For eligible military veterans.
3. Health Insurance Marketplaces
Federal Marketplace – Healthcare.gov
State Marketplaces – Some states have their own exchanges (e.g., Covered California)
Offers plans under the Affordable Care Act (ACA).
4. Individual/Private Health Insurance
Purchased directly from insurance companies (like Blue Cross Blue Shield, UnitedHealthcare, Aetna, Cigna).
Can be customized for coverage levels and costs.
5. Other Sources
Student health plans – Many colleges and universities offer health insurance to students.
Short-term health insurance – Temporary coverage for a limited period.
COBRA – Allows continuation of your employer’s health plan after leaving a job (usually for up to 18 months).
Which of the following is a type of life insurance that covers you for your entire life and can also build cash value?
Whole Life Insurance
Travel insurance might also cover “cancel for any reason” (CFAR) if you:
If you want more flexibility to cancel your trip for reasons not normally covered