insurance

True or False: Term life policies provide protection to a family if the insured dies early.

• True

• False

Your house suffered water damage when a frozen water pipe burst.

• Homeowners Property

• Homeowner's Liability

• Flood Insurance

• Not covered

What is Renewable Term?

• Allows policyholders to convert a term policy to permanent insurance.

• Premiums increase annually and are usually the least expensive term insurance in the beginning.

• Renews automatically every year

• Coverage decreasing over the life of the policy at a predetermined rate.

Your car is parked in the driveway during a storm and a large tree branch falls on it.

• Auto Comprehensive

• Auto Collision

• Auto Liability

• Homeowners

True or False: Permanent Life Insurance is typically more expensive.

• True

• False

True or False: The best-term life insurance policies balance affordability with long-term financial strength.

• True

• False

The likelihood or chance of an event occurring.

• risk

• luck

• fate

• probability

An amount to be paid for an insurance policy.

• Deductible

• Premium

• Claim

• Coverage

Which of the following is NOT a risk management strategy?

• risk analysis
• risk assumption (ignore risk)

• risk shifting (transfer risk)

• risk reduction

Your house was damaged in a flood.

• Homeowners

• Renters

• Liability

• Not covered