BUSINESS STUDIES JSS.3 WEEK 2 - INSURANCE

Provides payments for both liability and property insurance on a vehicle

• disability insurance
• automobile insurance
• coverage
• deductible

Provides payment to replace earnings during times when workers cannot work due to illness or injury

• disability insurance
• dependent
• emergency savings
• beneficiary

Provides money to pay for health care for illness, injury, or, in some cases, preventative care

• automobile insurance
• disability insurance
• health insurance
• personal insurance

This term pays for protection against loss of life, property, and finances.

• collision
• premium
• insurance
• deductible

What role does insurance play in financial planning?

• It guarantees that income and assets are protected

• It helps build and maintain one's credit score

• It helps cover day-to-day expenses

• It grows in value and appreciates over time

Insurance that protects your family against financial loss due to your death is

• coinsurance
• disability insurance
• life insurance
• comprehensive insurance

A sudden death of a family member results in a loss of household production (Income).

• Health Insurance

• Disability Insurance

• Life Insurance

• Automobile Insurance (Liability or Property)

• Renters Insurance (Liability or Property)

Insurance can help you:

• minimize monthly expenses
• protect against unexpected accidents
• reduce the chances o fgetting into an accident
• cover al lout-­‐of-­‐pocket costs

Jan pays $70 each month for her auto insurance policy. This regular payment is called a:

• co-­‐pay
• deductible
• premium
• claim

This is the only type of insurance where the person paying for it will not get any of the benefit.

• Life insurance 
• Disability insurance
• Renters insurance
• Auto insurance