Types of insurance
Insurance Policy Terms
Costs
Types of taxes
Parts of a Paystub
100
Ensures that another person (your beneficiary) will be financially protected if you pass away.
What is Life insurance?
100
It is a fixed fee that you pay for covered medical services.
What is CO-Pay?
100
Joshua gets into a car accident his claim is $3,000 and his deductible is $500. How much does the insurance pay?
What is $2,500?
100
Based on how much money you earn annually.
What is State Income?
100
Tax paid to the state you live and/or work in.
What is State Income Tax?
200
Helps cover lost income when an illness or injury prevents you from working.
What is Disability Insurance?
200
Is the amount you are personally required to pay “out-of-pocket” toward each claim before your insurance kicks in.
What is Deductible?
200
William gets surgery his medical bill is $1,000 and his deductible is $200 dollars. How much will he pay?
What is $800?
200
Based on the value of owned property, like land, buildings, or houses.
What is Property Tax?
200
A tax that pays for the retirement benefits for people who are currently retired and for the future retired population.
What is Social Security?
300
Helps cover the cost of any medical expenses, including doctor visits, prescriptions, trips to the emergency room or stays in the hospital.
What is Health Insurance?
300
Is the request you make to your insurance company for payment based on the terms of your insurance.
What is a Claim?
300
Phillips balance is $900 dollars and he has a 10% CO-Pay. How much will Phillip pay and how much will the insurance pay?
What is $90 and $810?
300
Charged on items you purchase.
What is Sales Tax?
300
A tax that pays for health care for people aged 65 and over.
What is Medicare?
400
Can protect you from paying for damages in the case of a burglary, fire, or other incident at your home.
What is Renters/Homeowners Insurance?
400
Is the amount you pay the insurance company for coverage.
What is a Premium?
400
Jessica's balance is $5,000 and her Co-Pay is 10%. How much will Jessica pay and how much will her insurance pay?
What is $500 and $4,500?
400
Based on how much money you earn each year.
What is Federal Income Tax?
400
Amount taken out of your paycheck to pay for taxes.
What is Taxes Withheld?
500
Is required by law in most states for those who drive, because it protects you and other drivers on the road.
What is Auto Insurance?
500
Refers to the range of protection you are eligible to receive from your insurance plan.
What is Coverage?
500
Rachel was in a car accident her claim was $10,000 and her deductible was $4,658. How much will the insurance pay?
What is $5,342?
500
Charged on any profit you make from selling something at a higher price than you bought it.
What is Apital Gains Tax?
500
Is the amount you have earned in the year so far.
What is Year to Date (YTD)?
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