Life accident guarantee

Which types of insurance are most appropriate for a single, working, 26-year-old?

• 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

True or False: Insurance is based on the concept of shared risk, or risk pooling.

• True

• False

What is the average monthly renter's insurance premium cost in the U.S.?

• $150/month

• $40/month

• $90/month

• $15/month

Which insurance coverage is required by law? (hint: choose 2 correct answers)

• Homeowners insurance

• Vehicle insurance

• FDIC

• Disability insurance

Under current law, until what age can a child stay on their parents' health insurance?

• 18

• 21

• 26

• 29

This professional analyzes statistics and uses them to calculate risks and premiums.

• Agent

• Actuary

• Claims Clerk

• Underwriter

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

 

How can you obtain health insurance? (hint: choose 2 correct answers)

• Buying directly from an insurance agent

• Shopping on the Health Insurance Marketplace

• Signing up at your family doctor's office

• Remaining on your parents' plan if you are under age 30