Different Types of Insurance Part B

An arrangement between individual an a insurer to protect the individual against risk

• Premium

• Insurance

• Deductible

• Policy Holder

• Risk

A fee paid to the insurer to be covered under specific terms.

• Premium

• Insurance

• Deductible

• Policy Holder

• Risk

The uncertainty about a situation’s outcome.

• Premium

• Insurance

• Deductible

• Policy Holder

• Risk

The amount paid out of pocket by the policy holder for the initial portion of a loss before the insurance coverage begins.

• Premium

• Insurance

• Deductible

• Policy Holder

• Risk

consumer who purchases the policy

• Premium

• Insurance

• Deductible

• Policy Holder

• Risk

Sally is not feeling well so her mother takes her to the doctor. The doctor tells her she has strep throat, gives her medication, and sends her home to recover. What type of insurance would be used?

• Automobile

• Life

• Homeowners

• Health

• Disability

John is driving down the road and a deer runs into the road. He misses the deer but instead hits a small tree on the side of the road. What type of insurance would be used?

• Automobile

• Life

• Homeowners

• Health

• Disability

David is working on his home and he falls off of a ladder. He is not able to work while he recovers. What type of insurance would be used?

• Automobile

• Life

• Homeowners

• Health

• Disability

Joey’s father is in a car accident and unfortunately does not make it. His family depends on the father financially. What type of insurance would be used?

• Automobile

• Life

• Homeowners

• Health

• Disability

Mary was getting ready for work and was rushing. She was straightening her hair and realized what time it was. She ran out of the house, forgot to turn the straightener off and her house caught fire. What type of insurance would be used?

• Automobile

• Life

• Homeowners

• Health

• Disability