Insurance for Business

The chance of loss from an event that cannot be entirely

controlled

• Premium

• Policy

• Insurance

• Risk

• Deductible

Which is the correct type of insurance that would be used: David’s mother is killed in an automobile accident. What type of insurance would provide his family financial support to cover the paid and unpaid work his mother performed?

• Property and liability

• Health

• Life

• Disability

• Workers’ compensation

Which is the correct type of insurance that would be used: Joey’s father is in a car accident and cannot work. What type of insurance replaces his father’s earnings?

• Property and liability

• Health

• Life

• Disability

• Workers’ compensation

Liability insurance covers accidental harm that may be caused to other people or property.

• True

• False

The money paid to an insurance company to purchase a policy.

• deductible
• copay
• premium
• co-insurance

The out-of-pocket money paid by a policyholder before an insurance company will cover the remaining costs caused by a loss.

• premium
• copay
• deductible
• co-insurance

John's father passed away. What type of insurance will provide his family with financial support?

• health
• life
• auto
• unemployment

A formal request to an insurance company asking for a payment when the policyholder has an accident, illness, or injury is called:

• a moral hazard
• a claim
• an insurance adjuster
• a policy review

The chance of loss.

• risk
• insurance
• deductible

What type of insurance provides payment to OTHERS if the insured person accidentally causes harm to other people or their property.

• disability
• liability
• worker's compensation
• unemployment