Insurance Types Flashcard

Front

Which type of insurance is specifically designed to cover medical expenses? Options: Life Insurance, Disability Insurance, Health Insurance, Auto Insurance

Back

Health Insurance

Front

What role does the main insured person play in an insurance policy?

Back

They are the person who buys the policy.

Front

Which of the following is NOT a role of the policyholder? Buying the insurance policy. Paying the insurance premium. Selling the insurance policy. Holding the insurance policy document.

Back

Selling the insurance policy.

Front

How much is the deductible in the example provided?

Back

$500

Front

If the deductible is increased, what happens to the insurance company's payment?

Back

It decreases

Front

What does comprehensive insurance cover in addition to auto accidents?

Back

Theft, broken windows, fire, hail, vandalism, and acts of nature

Front

Which of the following is an example of vandalism that comprehensive insurance would cover? Scratches from a car wash, a thief breaks the window, Engine overheating, Flat tire

Back

a thief breaks the window

Front

What is the purpose of a reimbursement?

Back

To compensate someone for expenses

Front

What does the term "Reimbursement" refer to in insurance?

Back

Receiving a check from the insurance company to cover a loss

Front

What type of insurance is specifically designed to cover loss of items in the home?

Back

Renter's or homeowners insurance