Insurance Terms Quiz

What is a policyholder?

• A person who receives the benefit of a life insurance policy

• A person who has an insurance policy

• The amount a policyholder can collect if he or she decides to give up a whole-life insurance policy

• An amount that a policyholder must pay before his or her insurance company will pay on a claim

What is a premium?

• A person who receives the benefit of a life insurance policy

• A regular payment made for an insurance policy

• The amount a policyholder can collect if he or she decides to give up a whole-life insurance policy

• An amount that a policyholder must pay before his or her insurance company will pay on a claim

A deductible is

• A fee charged by a doctor for a medical consultation.
• An amount of money that an individual must pay out of pocket before an insurance company will pay any expenses.
• A discount offered by an insurance company for good driving behavior.
• A payment made by an insurance company to cover medical expenses.

A copayment is...

• A percentage of the total cost of healthcare services.
• A fee charged for not having health insurance.
• A payment made by the healthcare provider to the insured person.
• A fixed amount that an insured person pays for covered healthcare services.

A group of medical professionals and facilities that provides health care services to members is called

• Health maintenance organization (HMO)
• Medicare
• Preferred provider organization (PPO)
• Medicaid

A group of doctors and medical facilities that contract to provide services at reduced rates.

• Preferred Provider Organization (PPO)
• Point of Service (POS)
• Exclusive Provider Organization (EPO)
• Health Maintenance Organization (HMO)

What is Bodily injury liability in auto insurance?

• Coverage for injuries caused to another person in an accident
• Coverage for damage to your own vehicle in an accident
• Coverage for damage caused by natural disasters
• Coverage for theft of personal belongings from your vehicle

This is a type of insurance that will protect your belongings and possibly protect you from lawsuits if someone is injured on your property even though you do not own the property.

• Homeowner's Insurance

• Renters Insurance

• Car Insurance

• Health Insurance