Auto
The type of insurance required in most states. This type of coverage help pays costs that another driver faces for damage or health care as a result of an accident that is your fault
Liability Coverage
This type of insurance protects your home and the things inside your house
Homeowner's insurance
What do you call the max amount of money you have to pay out of pocket with health insurance
Out of pocket max
A federal health insurance program for those 65 or older
Medicare
The cost you have to pay to have insurance every month
Premium
If you are hit by a driver who doesn't have insurance, this insurance can help cover you
Uninsured and Underinsured Motorist Coverage
True or False: Homeowner's insurance does not cover things like furniture and clothing in the event of a fire.
False
The flat fee that an individual is expected to pay for a medical service, such as a doctor's appointment
co-pay
A federal/state program which helps cover medical costs for those with limited incomes
Medicaid
The amount an insured person needs to pay before insurance kicks in
Deductible
Covers damage for things like theft, fire, hail, or vandalism
Comprehensive Coverage
This type of insurance is designed to help your family if you pass away, and can be used to cover funeral costs, mortgage loans, etc.
Life insurance
The percentage of money you are expected to pay after the deductible is reached
Co-insurance
Which government act expanded Medicaid coverage and mandated that everyone had to have health insurance?
The Affordable Care Act/Obamacare
A request for payment from the insurance company
Claim
This type of coverage pays out if you are in an accident with another vehicle or if you hit an object such as a fence
Collision Coverage
This type of life insurance typically has low premiums and the death benefits expire after a specified amount of time.
Term Life Insurance
This is the most common co-insurance ration
80/20
Under Obamacare, how long can you stay on your parents' insurance?
Which of the following is NOT a country with Universal Healthcare?
A. Germany
B. United Kingdom
C. Nigeria
D. South Korea
C. Nigeria
What kind of insurance covers your belongings, such as clothes, in the event that your car is stolen?
Homeowner's insurance
This type of life insurance typically has higher premiums and does not expire.
Permanent life insurance
If you have:
A $500 deductible that you have not paid into yet and a 80/20 co-insurance plan
How much would you have to pay for a $340 procedure?
$340
__________ means that healthcare is covered completely by the government rather than citizens paying for health insurance whatsoever
Universal Health Care
True or False: Obamacare and the Affordable Care Act are the same thing
True