Insurance Basics
This is protection against financial loss.
What is Insurance?
This type of coverage pays if your at fault in a car accident.
What is liability coverage?
This person calculates risk for insurance.
What is an actuary?
This is a request for payment after a covered incident.
What is a claim?
This law made health insurance more accessible in the U.S.
What is ACA (affordable care act)?
This document outlines what your insurance covers.
What is an Insurance Policy
This pays for damage to your car from hitting something.
What is collision coverage?
This person evaluates your application and decides your coverage.
What is an underwriter?
This is the amount you pay out of pocket before insurance helps.
What is deductible?
The ACA requires most Americans to have this.
What is Insurance?
This is the chance that something bad might happen.
What is risk?
This covers non collision damages like theft or weather.
What is comprehensive coverage?
This is a number used to predict your risk level.
What is probability?
This is the regular amount paid to keep your insurance active.
What is premium?
This ACA rule allows young adults to stay on a parents plan until age 26.
What is the dependent coverage rule?
This happens when many people share the financial burden of a few.
What is risk pooling?
This covers medical expenses for you passengers regardless of fault.
What is PIP (personal injury protection)?
This is the person you contact to report a claim or ask about your policy.
What is an insurance agent?
This is a fixed amount you pay for a covered service like a doctor visit.
What is a co-pay?
Under the ACA insurance companies cannot do this to people with preexisting conditions.
What is deny them coverage?
This is the amount of damage or money lost due to an incident.
What is loss
This refers to the protection provided by an insurance policy.
What is coverage?
This is the company that provides and backs the insurance policy.
What is an insurer?
A higher deductible usually means this happens to your premium.
What is premium goes down?
This is the government run site where people can buy health insurance.
What is the health insurance marketplace?