Auto.Health Insurance Warmup

cost of your insurance that you pay each month

• co-pay
• deductible
• premium
• co-insurance

You have reached your $5000 out-of-pocket limit. You need to go to the emergency room and it cost $1700. How much will your insurance pay?

• $1700
• $0
• $1360

The amount you owe before your health insurance begins to reimburse a claim.

• deductible
• premium
• owed amount

The contract which details your insurance coverage.

• Premium

• Deductible

• Co-Pay

• Policy

All health insurance policies are required to cover basic health services like an annual physical exam before your deductible is met.

• True

• False

Which of the following is a way to lower your insurance premium?

• have a good driving record

• be involved in sports

• have a parent with you at all times

• buy a sports car

Which of the following is a way to reduce the cost of your insurance premium?

• Good grades
• Number of miles you drive
• Where you live
• All answers are correct

Who needs auto insurance?

• Nobody

• People that think they will get into an accident.

• All people who drive cars.

• People who can afford it.

The out of pocket cost to the insured when a loss occurs is called...

• Premium

• Deductible

A higher deductible results in

• a lower premium

• a higher premium

• a lower claim

• a higher claim