5 - Insurance

Which types of insurance are most appropriate for a single, working, 24-year-old? (hint: choose 3 correct answers)

• Health insurance

• Disability insurance

• Life insurance

• Auto insurance

The out of pocket cost to the insured when a loss occurs is called...

• Premium

• Deductible

A policy is a contract between the

• Policyholder and the injured person

• Driver and the government

• Consumer and the insurance company

• Consumer and the insurance agent

Your health insurance copay is

• Amount paid out of pocket before your insurance coverage

• Paid by the insurer

• Applied on an annual basis

• A fixed amount of money you pay each time you use your plan

The amount paid for insurance is the

• closing cost
• premium
• deductible
• assessed value

Bodily injury covers your liability for injury to

• yourself
• property
• others
• other cars

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

• coinsurance
• disability insurance
• life insurance
• comprehensive insurance

The type of insurance that provides protection against financial loss from medical bills is called

• health insurance
• coinsurance
• life insurance
• premium

The person named in a life insurance policy to receive the death benefit is called the

• policy holder
• beneficiary
• recipient
• insurance agent

The type of insurance that covers damage or loss to a vehicle from fire, theft, vandalism, or hail is called

• term life insurance
• bodily insurance
• comprehensive
• collision