Chapter 9
The amount of money a policyholder pays pays prior to the insurance company's payment
Deductible
An insurance plan that pays a specific person or persons when the policyholder dies
Life Insurance
Money that a lender makes available to a borrower with the understanding that the borrower will repay the money in the future
Credit
Identity Theft
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Insurance plans that cover a large group of individuals, such as all the employees of a company or local government.
Group Plan
The person who buys a health insurance policy or subscribes it to an employer
Policyholder
Organizations that collect credit information about individual consumers
Credit Bureau
Used for specific purchases but allows the borrower more time to repay the money
Installment Credit
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Health Insurance
Premium
a persons record of using credit
Credit History
Fees charged by a lender on borrowed money
Interest
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a financial product that when purchased provides reimbursement to a person in the even of certain types of financial loss
Insurance
Provides coverage for a specified term and builds savings for the policyholder
Universal Life Insurance
Summarizes an individuals existing and past credit history; including applications for credit of any kind, payment record for bills, whether you have paid late fees, and any other public information
Credit Report
Credit extended for a short term, such as 30 days or less
Non-Installment Credit
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Life insurance provided over a specific period of time
Term insurance
Provides coverage for as long as the policyholder continues to pay the premium
Whole Life Insurance
A numeric score that uses your credit history to assess your creditworthiness
Credit Score
Allows consumers to borrow up to some preset maximum amount. An example would be a credit card
Revolving Open-Ended Credit
This mobile device was first launched in 2007...
What is iPhone?