Life Insurance
List 3 factors that determine life insurance rates
age,weight, overall health, blood pressure, occupation, hobbies, smoking, if you wear seat-belts, marital status.
What type of car insurance policy is also known as "full coverage"
Comprehensive
Which type of insurance covers the direct loss of property resulting from fire, lightning strike or removal from premises endangered by fire?
Fire Insurance
The price paid for insurance coverage is called what?
Premium
Name all 3 major types of property
Real, Personal, Intellectual
Crazy Charlie Seaver took a $5,000 policy loan on his life insurance coverage, so he’d have plenty of spending money in Las Vegas. Which type of life insurance does he have?
Permanent
Which type of insurance protects you from hit and run accidents?
Uninsured Motorists
Which type of insurance is for a person who lost someone close to them?
Survivor's
What is the period of time in which overdue premiums can be paid to keep the policy in force?
Grace Period
This protects logos and brands that produce goods
Trademark
Who needs life insurance most?
Parents of small children
What does liability insurance cover?
Damage to the car you hit
Which type of insurance is for injuries resulting in a person unable to work?
Disability
A clause that prohibits the insurer from refusing to perform due to misrepresentation or fraud after the policy has been in effect for a specified period of time - usually one or two years.
Incontestability Clause
What protects song lyrics?
Copyright
What's the rule of thumb when figuring out how much life insurance you should buy?
5-7 times salary
What type of car insurance is needed if you hit your car into a tree?
Collision
Which type of insurance is primarily for persons aged 60 or older and helps cover hospital expenses?
Medicare
Policies that exempt the insurer from liability when death is due to certain causes, such as crash of a private airplane.
Exemptions
The type of ownership that exists when someone owns property by themselves is called
Ownership in Severalty
What is one disadvantage to permanent life insurance?
More expensive
What was the catchy phrase from the long video we watched in class on car insurance? Hint: it was three words
Choice Chance Control
What does RSDHI stand for?
Retirement, Suvivor's, Disability, Health Insurance
Attached to the standard fire policy to provide special and individual needs.
Endorsement
What is the term for when a business or company donates property to the government for public use?
Dedication