Intro to Insurance
What is the basic purpose of insurance?
What is to transfer risk?
This type of auto coverage pays for damage you cause to others in an accident.
What is liability coverage?
This insurance covers physical structures and personal property.
What is homeowners insurance?
This health insurance is offered to people who are over 67.5 years od
What is Medicare?
This insurance provides money to the family of the deceased.
What is life insurance?
What is the person or business that buys insurance called?
What is the policyholder
What type of coverage helps pay for damage to your car not caused by a collision?
What is comprehensive coverage?
This insurance covers losses to personal property.
What is renters insurance?
This health insurance is offered to people based on need.
What is Medicaid?
Pet insurance typically helps cover what types of expenses?
What are veterinary bills?
What is the amount you pay out of pocket before insurance starts paying?
What is the deductible?
What does collision insurance cover?
What is the damage to your own vehicle in an accident?
This is covered under the personal liability of a homeowners insurance policy.
What’s the term for a fixed amount you pay for a covered service, usually at the time of service?
What is a copay?
This insurance protects you from losses regarding vacations or trips.
What is travel insurance?
What is the maximum amount an insurance company will pay for a covered loss?
What is the coverage limit?
Four factors that impact your auto-insurance premiums.
What is age, location, type of vehicle, and driving history?
Pretend your homeowners policy has a premium of $500, a deductible of $3,000, and a limit of $275,000. Your home suffers $280,000 in damages. How much does your insurance have to pay?
What is $272,000?
This plan has lower premiums but does not cover routine costs such as doctor visits
What is a high-deductible health plan (HDHP)?
This insurance covers the costs of a funeral and other final expenses.
What is life insurance?
What is the written contract between the insurer and the insured called?
What is the insurance policy?
Ms. Havird gets into an accident in which she is at fault. Her liability insurance has a limit of $20,000. Her deductible is $2,000. If the damage to the other car was $25,000, how much does Ms. Havird owe?
What is $7,000?
Pretend your homeowners policy has a premium of $200, a deductible of $500, and a limit of $200,000. Your home suffers $15,000 in damages. How much are you paying per month?
What is $200?
HMOs have specific primary care doctors that require referrals. PPOs do not require referrals but are more expensive.
This insurance helps replace income if you can’t work due to injury or illness.
What is disability insurance?