Insurance Intro Exit Ticket

Front

What is the purpose of insurance?

Back

To anticipate catastrophic losses

Front

What is insurance?

Back

A contract or policy for financial protection

Front

What is the term for the specified payment amount that David is required to pay periodically to maintain his car insurance policy?

Back

A premium

Front

What is the formal request made to an insurance company after a car accident called?

Back

A claim

Front

What is coverage?

Back

The extent of insurance responsibility

Front

What does the term 'deductible' refer to in the context of William's health insurance policy after a medical procedure?

Back

The amount William must pay out-of-pocket before his insurance coverage begins to pay.

Front

What is a benefit period?

Back

The length of time during which a benefit is paid