Insurance for Business

Front

The chance of loss from an event that cannot be entirely controlled

Back

Risk

Front

Which is the correct type of insurance that would be used: David’s mother is killed in an automobile accident. What type of insurance would provide his family financial support to cover the paid and unpaid work his mother performed?

Back

Life

Front

Which type of insurance replaces earnings when someone cannot work due to an accident?

Back

Disability

Front

Liability insurance covers accidental harm that may be caused to other people or property.

Back

True

Front

The money paid to an insurance company to purchase a policy.

Back

premium

Front

The out-of-pocket money paid by a policyholder before an insurance company will cover the remaining costs caused by a loss.

Back

deductible

Front

John's father passed away. What type of insurance will provide his family with financial support? (Options: health, life, auto, unemployment)

Back

life

Front

A formal request to an insurance company asking for a payment when the policyholder has an accident, illness, or injury is called:

Back

a claim

Front

The chance of loss.

Back

risk

Front

What type of insurance provides payment to OTHERS if the insured person accidentally causes harm to other people or their property? Options: disability, liability, worker's compensation, unemployment

Back

liability