Insurance Terminology Flashcard

Front

What is a claim in insurance?

Back

A request for payment from the insurer

Front

Which term describes the individual or entity covered by an insurance policy?

Back

Policyholder

Front

What does a deductible refer to in insurance?

Back

The amount paid before insurance coverage begins

Front

If you are the beneficiary of an insurance policy, you are:

Back

The person who receives the benefits from the policy

Front

Why is understanding insurance terminology important?

Back

It allows for informed decisions about financial protection.