Insurance Quiz 2

What is the purpose of health insurance?

• To provide coverage for medical expenses

• To protect against losses to a private residence

• To gain and use someone else's personal information

• To cover expenses and services not on typical policies

Where can individuals, families, and small businesses compare health insurance plans?

• Health Insurance Marketplace

• High-Deductible Health Plan (HDHP)

• Homeowners Insurance

• Long-Term Care Insurance

What is a tax-exempt savings account dedicated to health care costs called?

• Health Savings Account (HSA)

• Identity Theft

• Liability Insurance

• Personal Injury Protection (PIP)

What type of health plan has a high minimum deductible for medical expenses?

• High-Deductible Health Plan (HDHP)

• Health Insurance Marketplace

• Out-of-Pocket Maximum

• Supplemental Insurance

What does homeowners insurance protect against?

• Losses to a private residence and possessions

• Claims resulting from personal injury or property damage

• Fraudulently gaining and using personal information

• Coverage for destroyed or stolen personal property for a renter

What is the act of fraudulently gaining and using someone else's personal information called?

• Identity Theft

• Health Insurance

• Liability Insurance

• Renters Insurance

What is an arrangement in which an individual receives financial protection or reimbursement of losses from an insurer?

• Insurance

• Health Savings Account (HSA)

• Lifetime Limit

• Term Life Insurance

What does liability insurance protect against?

• Claims resulting from personal injury or property damage

• Coverage for destroyed or stolen personal property for a renter

• Protection for losses to a private residence and possessions

• Paying for medical expenses, lost wages, and other financial losses

What is the maximum amount of lifetime benefits a person can receive from their insurance company?

• Lifetime Limit

• Out-of-Pocket Maximum

• Personal Injury Protection (PIP)

• Supplemental Insurance

What type of insurance covers some or all of the costs of nursing home care, assisted living, and other end-of-life care?

• Long-Term Care Insurance

• Health Insurance Marketplace

• Homeowners Insurance

• Subsidizing