Unit Eight: Money and Career Management (3) Review

Front

What is an insurance premium?

Back

Your monthly payment to your insurer, regardless of whether you use any services

Front

Back

$0

Front

Why would someone choose to get long term disability insurance even if they already have health insurance?

Back

To cover lost income if they are unable to work due to a disability

Front

How much will Frank need to pay out-of-pocket for damages totaling $6,200 with a deductible of $1,000?

Back

$1,000

Front

Social Security generally provides (retirement) insurance for which of the following groups of people? The elderly or disabled, Employees who have a government position, Anyone with a job, Children and students

Back

The elderly or disabled

Front

What is a potential consequence of not having mandatory insurance types like auto, health, life, disability, and renters/home insurance?

Back

You will have to pay penalties

Front

What is the benefit of starting to pay for insurance early?

Back

You can stop paying altogether for coverage sooner.

Front

Fill in the blank: The sooner you start paying for insurance, the sooner you will reach your maximum ________ requirement.

Back

Lifetime

Front

Which type of auto insurance coverage will help cover the cost to get the hood and windshield replaced/fixed if a car is hit by a falling branch? Options: A) Collision, B) Liability, C) Comprehensive, D) Uninsured motorist coverage.

Back

Comprehensive

Front

Why won't Lucille's health insurance plan work if she chooses a plan with a low monthly premium and a high deductible?

Back

You cannot change your plan instantly at any time, and she cannot predict when an emergency will strike.