General
An agreement between you and an insurance company
What is insurance?
Protection against claims resulting from personal injury or property damage as the result of an auto accident
What is liability insurance?
Covers the structure of your home and its contents
What is homeowners insurance?
Covers your medical expenses
What is health insurance?
The person/persons that receive the death benefit when the policy owner passes away
What are the beneficiaries?
The financial contract between the insurance company and the person being insured
What is a policy?
Pays for the loss or damage to your vehicle caused by something other than a collision
What is comprehensive coverage?
Covers personal possessions lost to fire, theft or vandalism
What is renter's insurance?
Has a lower monthly premium but you have to pay more before the insurance will kick in
What is a high-deductible health plan?
Provides life insurance coverage for a certain length of time
What is a term life policy?
The amount of money you pay for an insurance policy
What is a premium?
Covers you and any other passengers if you're hit by an uninsured or underinsured driver
What is Uninsured/underinsured motorist protection?
Covers situations that fall outside of a homeowner's or other type of policy
What is umbrella insurance?
The cap on the total amount of benefits you're allowed to get from your insurance company
What is your lifetime limit?
People that rely on you to provide for them financially
What are dependants?
The amount of money the insurance company agrees to pay for an incident according to your policy
What is coverage?
Covers damage to your car after a collision with another car or object
What is collision insurance?
This covers additional living expenses like the cost of a hotel if you are unable to live in your house
What is loss of use coverage?
The account that lets you save money tax free to cover your health care expenses
What is a Health Savings Account (HSA)?
What are actuarial life tables?
The amount of time after your premium is due and before the policy expires
Pays for the treatment of injuries to the driver and passengers of the policyholder's car
What is Personal injury protection?
The amount of money you have to pay out of pocket before the insurance company will make a payment
What is deductible?
The place you go to shop for health insurance if your employer doesn't provide it
What is the health insurance marketplace?
The right amount of life insurance
What is 10-12 time your annual salary?