Life Insurance
Health Insurance
Vocab
100
The type of life insurance policy that offers protection only for a fixed period of time is called
term life insurance.
100
Is it illegal to not have health insurance?
No
100
Daily Double!!
________________________________________ pays a portion of the income lost if an employee cannot work due to a health condition or an injury
Disability Insurance
200
The person named in a life insurance policy to receive the death benefits is called the
beneficiary
200
The type of insurance where the insured and the insurer share losses or costs is _______________________________.
Coinsurance
300
Billy bought a $95,000 whole life insurance policy at age 35. What is his annual premium?
$1656.80
300
Daily Double!! Jessica's company pays 70% of her annual health insurance premium. If the total monthly premium for the insurance is $2000, what is Jessica's share of the annual premium?
$7200
300
Does all life insurance cover your entire life?
No
400
Daily Double!! Aldo just turned 35 and purchases a $350,000 term life insurance policy.
What does Aldo pay total for 10 years of insurance?
$4,550
400
Kylee’s medical care bills for a recent illness were $18,000. Her major medical policy did not cover $800 of the bill. Kylee's policy had a coinsurance feature that paid 75% of all covered expenses over a $300 deductible.
What was the amount paid by the major medical policy?
$12,675
500
Tiffany took out a life insurance policy for $220,000. At the end of the tenth year, she turned in the policy for its cash value. How much did she receive from the insurance company?
$9240
500
As part of its benefits package, a company offers dental health insurance to employees. The monthly premium cost per employee is $173. If the employee pays 47% of the premium, how much is the total annual premium paid by an employee for the dental insurance?
$975.72
500
The money you get if you cancel a life insurance policy is called ___________________________________________.
Cash Value