Life Insurance
Health Insurance
Vocab
100
The type of life insurance policy that offers protection only for a fixed period of time is called
a. term life insurance. b. permanent life insurance.
c. straight life insurance. d. universal life insurance
a. term life insurance.
100
Is it illegal to not have health insurance?
No
100
Daily Double!!
________________________________________ pays a portion of the income lost if an employee cannot work due to a health condition or an injury
Disability Insurance
200
The person named in a life insurance policy to receive the death benefits is called the
a. policy holder b. beneficiary c. recipient d. heir
b. beneficiary
200
The type of insurance where the insured and the insurer share losses or costs is _______________________________.
Coinsurance
300
Jayden bought a $75,000 whole life insurance policy at age 25. What is his annual premium?
$870.75
300
Daily Double!! April’s company pays 60% of her annual health insurance premium. If the total monthly premium
for the insurance is $1275, what is April’s share of the annual premium?
$6120
300
Does all life insurance cover your entire life?
No
400
Daily Double!! Aldo just turned 35 and purchases a $350,000 term life insurance policy.
What does Aldo pay total for 10 years of insurance?
$4,550
400
Sabrina’s medical care bills for a recent illness were $24,620. Her major medical policy did not cover $995 of the bill. Sabrina’s policy had a coinsurance feature that paid 80% of all covered expenses over a $500 deductible.
What was the amount paid by the major medical policy?
$18,500
500
Ashley took out a life insurance policy for $120,000. At the end of the fifteenth year, she turned
in the policy for its cash value. How much did she receive from the insurance company?
$9600
500
As part of its benefits package, a company offers dental health insurance to employees. The monthly
premium cost per employee is $173. If the employee pays 47% of the premium, how much is the total
annual premium paid by an employee for the dental insurance?
$975.72
500
The money you get if you cancel a life insurance policy is called ___________________________________________.
Cash Value