Personal Finance: Insurance Unit Review

Front

Homeowners insurance is typically required by banks as a condition of providing a mortgage on a home.

Back

Homeowners insurance is a type of property insurance that covers losses and damages to an individual's house and assets in the home.

Front

Homeowners insurance protects personal property and the physical dwelling, while renters insurance only protects the personal property.

Back

Homeowners insurance provides coverage for both the structure of the home and the personal belongings inside, unlike renters insurance which only covers personal belongings.

Front

Most common way workers obtain health insurance coverage

Back

Through an employer-sponsored plan

Front

Responsibility for health care costs without insurance

Back

The uninsured person

Front

Main purpose of life insurance

Back

To support the survivors of a person who has passed away

Front

Short-term disability insurance typically covers a portion of salary for up to six months.

Back

Up to six months

Front

The best immediate resource for John, who was laid off and needs financial assistance, is unemployment insurance.

Back

Unemployment insurance

Front

Ways to save money on home/property insurance.

Back

Install smoke detectors, maintain good credit, shop around different insurance companies.

Front

Paying your insurance bill late helps save money.

Back

False

Front

Reasons to buy insurance include protecting what's important, peace of mind, financial assistance for large purchases, and reducing financial risk.

Back

Reasons to buy insurance.