Ch 9 L1

Match the following term to the correct definition.

• The promise of financial protection

• Insurance

• The amount of liability protection offered

• Premium

• The contract between insurance and client

• Policy

• The amount of $ paid for a policy

• Coverage

Match the following terms to the correct definition.

• A fee you pay every time you receive a medical service.

• Out-of-Pocket Maximum

• The most a policy holder must pay in a given year.

• Claim

• A formal request for financial reimbursement.

• Copays/ Coinsurance

• Money paid out of pocket BEFORE insurance covers you.

• Deductible

A head on collision with another driver would most likely be covered by...

• Auto Insurance

• Term Life Insurance

• Long Term Disability Insurance

• Long Term Care Insurance

You go to the doctor to get checked for the flu. This would most likely be covered by...

• Homeowners / Renters Insurance

• Umbrella Insurance

• Health Insurance

• Identity Theft Protection

Someone breaks into your apartment and steals your Nintendo Switch and fine collection of Funko Pops. Which of these would likely cover the losses?

• Homeowners / Renters Insurance

• Umbrella Insurance

• Health Insurance

• Identity Theft Protection

Someone uses your address and credit card number to rack up $50,000 in charges. Which of the following would help you cover those losses?

• Homeowners / Renters Insurance

• Umbrella Insurance

• Health Insurance

• Identity Theft Protection

You are injured on the job and can't work for the next 6 months. Which of the following would likely cover you?

• Auto Insurance

• Term Life Insurance

• Long Term Disability Insurance

• Long Term Care Insurance

A loved one is paralyzed from the neck down and will need to be cared for the rest of their lives. Which of the following would likely cover the expenses?

• Auto Insurance

• Term Life Insurance

• Long Term Disability Insurance

• Long Term Care Insurance