Auto Insurance
This coverage helps pay for damage to another person’s car or injuries when you’re at fault in an accident.
What is Liability Coverage
This type of policy protects your home against risks like fire, theft, and vandalism.
What is Hazard Insurance
This type of life insurance provides coverage for a specific period, like 10 or 20 years.
What is Term Life Insurance?
This is the fixed amount you pay for a covered health care service, usually when you receive the service.
What is a Copay?
This employer-sponsored retirement plan allows employees to contribute pre-tax income.
What is a 401K?
This type of coverage pays for damage to your car caused by something other than a collision, like theft or a falling tree.
What is Comprehensive Coverage
This part of a homeowners policy covers your furniture, clothing, and other personal belongings.
What is Personal Property Coverage or What is Coverage B
This permanent policy builds cash value and typically earns dividends over time and can last your entire life.
What is Whole Life Insurance?
This is the amount you must pay in a year before your insurance starts paying.
What is a deductible
This type of IRA is funded with after-tax dollars and grows tax-free.
What is a Roth IRA?
This coverage pays for your vehicle’s repairs when you’re in an accident, regardless of who is at fault.
What is Collision Coverage
This term describes the amount you must pay out of pocket before your insurance kicks in.
What is Deductible
This rider allows a policyholder to receive part of the death benefit early if diagnosed with a terminal illness.
What is Accelerated Death Benefit?
This type of savings account can be used for medical expenses and has tax advantages.
What is a Health Savings Account (HSA)?
At what age can you begin making penalty-free withdrawals from retirement accounts like IRAs and 401(k)s?
What is 59 1/2
In California, this policy feature allows the insurer to recover damages from the at-fault party’s insurer after paying your claim.
What is Subrogation
This coverage pays for temporary living expenses if your home becomes uninhabitable due to a covered loss.
What is loss of use or additional living expenses?
This life insurance option allows you to adjust your premium and death benefit over time.
What is Universal Life Insurance?
This federal program provides health insurance to people age 65 and older.
What is Medicare?
This investment vehicle pools money from many investors to buy a diversified portfolio of assets and is commonly found in retirement plans like 401(k)s.
What is a Mutual Fund?
This coverage provides coverage to newly acquired vehicle OR borrowed vehicle for a set period of time.
What is Permissive use
This type of coverage protects you if someone is injured on your property and sues you.
What is Personal Liability Coverage
This type of life insurance allows you to invest the cash value in sub-accounts similar to mutual funds.
What is Variable Life Insurance?
This is the term for the maximum amount you pay for covered services in a plan year before your insurance covers 100%.
What is the out-of-pocket maximum?
This type of permanent life insurance grows cash value based on the performance of a stock market index like the S&P 500.
What is Indexed Universal Life Insurance?