Chapter 9: Insurance Review

The recipient of assets passed on from the death of a friend or relative is called a

Paperwork filed with an insurance company in order to get them to cover a loss for someone they insure is called a

This applies to the amount of protection you have through an insurance company in the event of a loss

The amount you must pay before you begin receiving any benefits from your insurance company is called a

A legally enforceable declaration of how a person wishes his or her property to be distributed after their death is called a

The state or quality of being obligated according to law or equity is called

The specific amount of money that you pay when insurance only covers a portion of costs is called a

• Liability

• Out-of-Pocket Expense

• Policy

• Premium

This describes the type of coverage in an insurance agreement

The amount you pay monthly, quarterly, semiannually, or annually to purchase different types of insurance is called a

Raising your deductible may be a good option when it comes to lowering your premium, but it is important to do a break-even analysis before making that decision.

• True

• False