Insurance and Health Care Quiz 1

What is an Actuarial Life Table used for?

• Determining life insurance premiums

• Calculating car insurance rates

• Estimating health care costs

• Assessing disability insurance coverage

What is the Affordable Care Act (ACA) also known as?

• Medicaid

• Medicare

• Obamacare

• Social Security

Who are beneficiaries in a life insurance policy?

• Insurance agents

• Policyholders

• Doctors

• Designated recipients of the death benefit

What is a claim in insurance?

• A request for compensation for a covered loss

• A payment made to the insurance company

• A policyholder's premium payment

• A deductible amount

What does collision insurance cover?

• Damage to your car caused by vandalism

• Damage to your car resulting from a collision with another car or object

• Loss or damage to your vehicle caused by something other than a collision

• Protection for medical expenses

What does comprehensive insurance cover?

• Damage to your car caused by vandalism

• Damage to your car resulting from a collision with another car or object

• Loss or damage to your vehicle caused by something other than a collision

• Protection for medical expenses

What are copays in health insurance?

• The total cost of medical services

• The payments an individual makes each time they get medical service

• The amount of money you will pay out of pocket before the insurance company will make a payment

• The amount of liability protection offered to an individual through an insurance policy

What is a death benefit in life insurance?

• The premium paid by the policyholder

• The amount of money you will pay out of pocket before the insurance company will make a payment

• The benefit paid to the beneficiaries after the policyholder's death

• The amount of liability protection offered to an individual through an insurance policy

What is a deductible in insurance?

• The premium paid by the policyholder

• The amount of money you will pay out of pocket before the insurance company will make a payment

• The benefit paid to the beneficiaries after the policyholder's death

• The amount of liability protection offered to an individual through an insurance policy

Who is considered a dependent in insurance?

• A person who relies on someone for financial support

• An insurance agent

• A policyholder

• A doctor