Insurance

The chance of loss from an event that cannot be entirely

controlled

• Premium

• Policy

• Insurance

• Risk

• Deductible

Which is the correct type of insurance that would be used: David’s mother is killed in an automobile accident. What type of insurance would provide his family financial support to cover the paid and unpaid work his mother performed?

• Property and liability

• Health

• Life

• Disability

• Workers’ compensation

Which is the correct type of insurance that would be used: 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 in this case?

• Property and liability

• Health

• Life

• Disability

• Workers’ compensation

Which is the correct type of insurance that would be used: Joey’s father is in a car accident and cannot work. What type of insurance replaces his father’s earnings?

• Property and liability

• Health

• Life

• Disability

• Workers’ compensation

Liability insurance covers accidental harm that may be caused to other people or property.

• True

• False

The money paid to an insurance company to purchase a policy.

• deductible
• copay
• premium
• co-insurance

The out-of-pocket money paid by a policyholder before an insurance company will cover the remaining costs caused by a loss.

• premium
• copay
• deductible
• co-insurance

John's father passed away. What type of insurance will provide his family with financial support?

• health
• life
• auto
• unemployment

Anthony goes to the doctor and receives a prescription for medication to recover from the flu. What type of insurance can be used in this situation?

• health
• disability
• life
• unemployment 

A formal request to an insurance company asking for a payment when the policyholder has an accident, illness, or injury is called:

• a moral hazard
• a claim
• an insurance adjuster
• a policy review