Auto
This is the monthly amount you pay for insurance.
What is a premium?
This is the amount you must pay before insurance starts covering costs.
What is a deductible?
This type of insurance covers your items but doesn't cover your property.
What is renters insurance?
This insurance pays your family after you die.
What is life insurance?
This is a request for payment after a loss.
What is a claim?
This type of auto insurance covers the other person and car in an accident. Most states legally require it.
What is liability?
This is what it is called when you begin to pay a percentage of the bill after the deductible.
What is co-insurance?
This is usually NOT covered by standard homeowners insurance.
What is earthquakes or floods?
This type of insurance helps pay bills if you can’t work due to injury.
What is disability insurance?
This is the most an insurance company will pay.
What is a policy limit?
This type of auto insurance covers you and your car in an accident.
What is collision?
This plan requires referrals to see specialists.
What is an HMO?
This type of coverage protects specific valuable items like jewelry.
What is a rider?
This type of life insurance builds cash value over time.
What is whole life insurance?
This is a fixed amount you pay for a doctor visit.
What is a copay?
This insurance covers theft, weather damage, or hitting an animal.
What is comprehensive?
This type of plan allows you to see doctors without referrals and more flexibility.
What is a PPO?
SCENARIO QUESTION: A healthy 24-year-old who rarely goes to the doctor should choose this type of plan.
What is a high deductible or HSA plan?
This is the person who receives money from a life insurance policy.
What is a beneficiary?
This is the maximum amount you pay in a year before insurance covers everything.
What is an out-of-pocket-maximum?
This happens when your car is too damaged to repair, also known as the damages outweigh the value of the vehicle.
What is totaled?
This type of plan has a high deductible but allows you to save money tax-free for medical expenses.
What is an HSA (Health Savings Account)?
This type of insurance is needed for disasters not included in standard policies.
What is flood or earthquake or hurricane insurance?
SCENARIO QUESTION: Someone who visits the doctor often should choose this type of plan.
What is a low deducible and low out-of-pocket maximum plan?
These are two different insurance companies: one has a gecko as their spokesperson and one, a woman named Flo.
What is Geico and Progressive?