W!SE Prep - Insurance Voc set 1

What is the dollar amount you must pay each year before your insurance carrier will pay?

• Premium

• Annual Deductible

• Cash Value

• Claim

Identify the name of the payment made to the beneficiary of a life insurance policy upon the death of the insured person.

• Death Benefit

• Co-pay

• Claim

• Cash Value

What is the title of the person specified in a life insurance policy to receive payment upon the death of the insured person?

• Executive

• Administrator

• Trustee

• Beneficiary

Identify the name of a formal request made to an insurance company for payment for a loss.

• Payment Log

• Accident Report

• Claim

• Benefit

True/False: Comprehensive Coverage pays for damage to your car caused by hitting another car.

• TRUE

• FALSE

The specific amount you pay for particular services, regardless of the cost of those services.

• Premium

• Deductible

• Co-pay

• Claim

Identify the name of money held in an annuity or whole life insurance policy.

• Cash Value

• Face Value

• Interest

• Dividends

Susan's parents died in an automobile accident. Susan was listed in her parent's life insurance policy as the _____ who would receive payment upon their death.

• Trustee

• Beneficiary

• Policy Holder

• Child