Amount you pay per year for insurance before your plan benefits take effect

Insurance Vocabulary Part I

Quiz
•
Life Skills, Business
•
9th - 12th Grade
•
Medium
Madison Irving
Used 66+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Cash value
Annual deductible
Co-pay
Deductible
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
When an insurance company is required to provide coverage for by state insurance law.Regulators deal with assigned risks by requiring insurers to pool together to provide coverage
Comprehensive
Insurance
Assigned risk pool
Insurance Benefit
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Contract between you and the insurance company. Covers you while driving. Provides property, liability, and medical coverage
Automobile insurance
Collision insurance
Disability insurance
Long-term care insurance
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A person who derives advantage from something, especially a trust, will, or life insurance policy
Benefit period
Claim
Cash value
Beneficiary
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Length of time during which a policyholder or their dependents may file and receive payment for a covered hazard.
Cash value
Deductible
Benefit period
Death benefit
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Cash amount offered to the policy owner by the issuing life carrier upon cancellation of the contract
Claim
Insurance
Cash value
Deductible
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A formal request to an insurance company for coverage or compensation for a covered loss or policy event
Beneficiary
Co-pay
Claim
Death benefit
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