Insurance Basics
This is a payment you make regularly to keep your insurance active.
What is a premium?
This type of insurance helps pay for doctor visits, hospital care, and medicine.
What is health insurance?
This is when a customer asks the insurance company to pay for a loss.
What is a claim?
This person sells insurance and helps people choose a policy.
What is an insurance agent?
This word means something your insurance does not cover.
What is an exclusion?
Insurance helps protect people from this kind of unexpected event or loss.
What is risk?
This insurance helps protect a person’s car if there is an accident or damage.
What is auto insurance?
This is the amount someone pays out of pocket before insurance starts to pay.
What is a deductible?
This job helps customers with questions, billing, and policy changes.
What is customer service?
This is the maximum amount an insurance policy will pay.
What is a limit?
The person or company that gives you insurance is called this.
What is an insurer?
If a student rents an apartment someday, this insurance may help protect their belongings.
What is renters insurance?
This term means the chance that something bad will happen.
What is risk?
This person investigates claims and decides how much the insurance company should pay.
What is a claims adjuster?
This is what you pay to stay protected, usually monthly or yearly.
What is a premium?
This is the document that explains what your insurance covers.
What is a policy?
This insurance helps protect a home from damage caused by fire, storms, or other disasters.
What is homeowners insurance?
Insurance companies use this process to decide how much a policy should cost based on risk.
What is underwriting?
This job looks at data and math to help price insurance and predict risk.
What is an actuary?
This means two or more items are covered by one insurance policy.
What is bundled coverage?
Insurance works by spreading the cost of loss across many people. This is called this.
What is risk pooling?
This type of insurance can help a family financially if someone dies unexpectedly.
What is life insurance?
When an insurance company checks the damage after a claim, this person might evaluate the loss.
What is an adjuster?
This professional helps businesses understand risk and find the right coverage.
What is an insurance broker or risk advisor?
This is when insurance helps make sure people and businesses can recover after something goes wrong.
What is financial protection?