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INSURANCE & RISK MGMT
AUTO INSURANCE
PROPERTY INSURANCE
LIFE INSURANCE
HEALTH INSURANCE
100

These 3 factors impact an insurance premium:  Type of insurance, coverages, and ____________

What is deductible

100
Insurance that covers damage to your vehicle when itis involved in an accident
What is collision insurance
100
Coverage that provides protection for your residence and its associated financial risks
What is homeowners insurance
100
A person named to receive the benefits from a life insurance policy
What is a beneficiary
100
A form of financial protection that eases the financial burden people may experience as a result of illness or injury
What is health insurance
200
A legal responsibility for the financial cost of another person's lossess of injuries
What is liability
200
Insurance that covers you and your family members if you are involved in an accident with an uninsured or hit-and-run driver
What is uninsured motorist's protection
200
Pays the cost of minor accidental injuries to visitors on your property
What is medical payments coverage
200
Insurance that provides protection against loss of life for only a specified term, or period of time
What is term insurance
200
The percentage of the medical expenses the policy holder must pay in addition to the deductible amount
What is coinsurance
300
What is the failure to take ordinary or reasonable care to prevent accidents
What is negligence
300
Insurance that covers physical injuries caused by a vehicle accident for which you are responsible
What is Bodily injury liability
300

Additional property insurance that covers the damage or loss of a specific item of high value

What is an insurance rider

300
A permanent policy for which you pay a specified premium each year for th rest of your life
What is whole life insurance
300

These insurance providers have an agreement with the insurance company to provide care.  These providers are generally less expensive than going to providers not listed with insurance company.

In-network providers

400
A fee paid for insurance
What is a premium
400

Insurance that protects you if your vehicle is damaged in a non-accident situation

What is comprehensive damage

400

Renter's insurance covers your property within your rental unit and

Liability

400

The elderly need life insurance more than a young family...true or false?

What is false

400

Your helath insurance plan has  $20 copay for certain covered prescription medications.  You arrive at the pharmacist and pick up your prescription that is covered by your insurance which has a list price of $75. How much will you pay the pharmacy?

$20

500
The set amount that the policyholder must pay per loss on an insurance policy
What is a deductible
500

Insurance companies operate by charging inviduals different prices for coverage depnding on their risk levels.  Then they collect everyone's monthly premiums together and use the money to make payments when a claim is filed.  This is known as...

What is risk pooling

500

Basic homeowners insurance covers any damage caused to your home by flooding ---  true or false?

What is false

500
Insurance that is usually offered by employers, who pay part or all of the costs of their employees
What is group insurance
500
A federally funded health insurance program available mainly to people over 65 and to people with certain disabilities
What is medicare