Unit Basics
The money paid by an insurance company after a claim.
What is a benefit
The largest auto insurance company in the U.S. by market share, holding approximately 18.9% and reccommended by Jake
What is State Farm.
This form is used by most U.S. taxpayers to file their annual income tax return.
What is Form 1040?
These are financial goals set for 6 months in the future
What are short term goals
This type of life insurance provides coverage for a specific period of time.
What is term life insurance?
This fund is recommended to cover unexpected costs and emergencies.
What is an emergency fund?
This coverage protects you if you're in an accident with someone who doesn't have insurance.
What is uninsured motorist coverage?
Your employer uses this form to report your annual wages and the amount of taxes withheld from your paycheck.
What is a W-2?
Going out to eat is an example of these types of expenses
What are Variable Expenses?
The amount you agree to pay out-of-pocket before your insurance kicks in.
What is a deductible?
The amount you pay for insurance coverage, typically on a monthly or annual basis.
What is a premium?
This comprehensive package includes liability, collision, and comprehensive coverage.
What is full coverage?
You fill out this form when starting a new job to determine how much tax should be withheld from your paycheck.
What is a W-4?
Retirement is an example of this type of Goal
What is a long term goal?
This coverage pays for damage to other people's property in an accident you cause.
What is liability insurance?
The annual percentage rate charged for borrowing money.
What is APR?
The insurance type that covers an accident with another driver
What is collision coverage?
This form reports interest income you've earned from banks or other financial institutions.
What is a 1099-INT?
This type of expense stays the same each month, like rent or a car payment.
What are fixed expenses
Amount of the deductible, out of pocket max, the level of coverage, and how many people in the household are insured all factor into this
What is the insurance premium
The comprehensive health care reform law was enacted in March 2010 and is often called "Obama Care"
What is the Affordable care Act
This was first state to legislate compulsory, or mandatory, insurance for automobiles
What is Massachusetts
This form reports interest income you've earned from Investments.
What is a 1099-DIV?
The ability to quickly convert an asset to cash.
What is liquidity?
founded the first insurance company in the US in 1752
he was also the first postmaster general
Who is Ben Franklin