Insurance
Collision insurance covers:
damage to your car
The price you pay for insurance:
premuim
Tax on the things we buy:
What is sales tax?
percent paid by both employee and employer for social security & medicare:
7.65
This part of an auto insurance policy covers damage to your car from things other than collision:
comprehensive
You see the doctor for a checkup and pay $25 on the spot:
copay
Type of life insurance that is good for specified period of time and relatively the least expensive type of life insurance:
term life
Filing date for most taxpayers:
April 15
The type of tax paid for investment profits:
What is capital gains tax?
Tax paid on real estate:
What is property tax?
$2000 of your possessions are stolen from your apartment. You have to pay the first $500. This is called the:
deductible
Insurance is designed to __________________ in the case of a loss/claim: (a few word phrase will cover it)
mitigate or help offset the loss - but not usually 100% covered
THIS is the government entity that collects taxes
What is IRS?
This document is a statement of your annual earnings which is produced by your employer:
w-2
Expressed as a percent, this is the part of the insurance you pay before the insurance company pays:
coinsurance
This type of analysis is the best way to determine if insurance is "worth it":
cost-benefit
What is a claim?
Ask insurance to pay because of a loss
THIS is a form you fill out when you start a new job - it determines withholding amount:
What is a W-4?
This reduces your taxable income:
What is a Deduction?
This four-letter word is the core concept of insurance, both for the insured and the insurer:
RISK
The part of an insurance policy that covers your responsibility/damage to others:
liability
Coverage ends due to not paying
Also known as the payroll tax:
social security (and medicare) tax
schedule
Something not covered by an insurance policy (stated up front):
exclusion