Insurance

Insurance

Assessment

Flashcard

Social Studies

12th Grade

Easy

Created by

Wayground Content

Used 1+ times

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10 questions

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1.

FLASHCARD QUESTION

Front

Which type of Insurance Policy costs more but provides a cash value which can be used by the policy owner?

Back

Whole Life

2.

FLASHCARD QUESTION

Front

Which Type of Insurance Policy is a death benefit only with no cash value?

Back

Term Insurance

3.

FLASHCARD QUESTION

Front

Why is it important to have insurance?

Back

To protect others from your mistakes, To protect your assets from claims by others, Guard against financial loss that can not be predicted.

4.

FLASHCARD QUESTION

Front

What is the name for the portion of a claim that you must pay before the insurance coverage kicks in?

Back

Deductible

5.

FLASHCARD QUESTION

Front

What is the name of the agreement that you have with an insurance company for coverage in exchange for payments?

Back

Policy

6.

FLASHCARD QUESTION

Front

What is another name for the payments which must be made to the insurance company in order to have coverage?

Back

Premium

7.

FLASHCARD QUESTION

Front

What is the name of an insurance product which covers your home and the contents inside?

Back

Homeowners Insurance

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