Types of Income
Income received from performing a service and includes wages, tips, salaries, commissions, and income from businesses in which there is material participation.
What is Active Income?
Donating time or labor without pay
What is Volunteerism?
If something happens, you need to file a ___ with your insurance company.
What is a Claim?
A legal document that states who gets your property, money, and belongings.
What is a Will?
Monetary compensation paid by an employer to an employee in exchange for work done.
What is Wage?
Exists to serve a mission, not to make profit
What is a Nonprofit Organization?
the amount you’ll have to pay out of pocket before the insurance will pay the rest.
What is a deductible?
The person (or people) who receive money or assets from Your will, Your life insurance,Your retirement accounts.
What is a beneficiary?
Payment made to people who have retired from work.
What is pension?
Requires specialized training or certification to work this job.
What is Skilled Labor?
the amount of money the insurance company agrees to pay for an incident according to your policy.
What is Coverage?
The person who is responsible for carrying out your will
What is an Executor?
Federal insurance program workers pay into until they retire or are no longer able to work. The program provides economic security for millions of Americans
What is Social Security?
Little to no training to work this job
the amount of money you pay for an insurance policy.
What is a Premium?
The court process that happens when someone dies without a will.
What is Probate?
Money received from investments, dividends, interest, royalties from an investment, and capital gains.
What is Portfolio Income?
Some training, some certifications to work this job.
covers damage to your car after a collision with another car or object
What is Collision Insurance?
____ Means dying without a Will.
What is Intestate?