Insurance Knowledge

What is the purpose of health insurance?

• To give access to exclusive vacation packages

• To provide free gym memberships

• To provide financial protection and coverage for medical expenses and treatments

• To offer discounts on fast food

What are the different types of car insurance coverage?

• Liability, collision, comprehensive, uninsured/underinsured motorist, and PIP/medical payments

• Property, casualty, umbrella, marine

• Life, health, dental, vision

• Home, renters, flood, earthquake

Why is life insurance important?

• To have access to discounted medical services

• To provide financial protection for loved ones

• To protect against natural disasters

• To have a backup plan for retirement

What does home insurance typically cover?

• Home insurance typically covers the structure of the home, personal belongings, liability protection, and additional living expenses.

• Home insurance typically covers car repairs

• Home insurance typically covers only the structure of the home

• Home insurance typically covers medical expenses

Explain the process of filing an insurance claim.

• Ignore the insurance company and hope the problem goes away

• Notify the insurance company, provide necessary documentation, and complete claim forms.

• Never complete the claim forms and expect the insurance company to pay out

• Provide false documentation to support the claim

What are the benefits of having health insurance?

• Increased risk of bankruptcy

• Limited access to healthcare

• Constant worry about medical expenses

• Financial protection, access to preventive care, peace of mind

What factors can affect car insurance premiums?

• Age, driving record, location, type of car, and coverage options

• Favorite color

• Favorite food

• Number of pets

How does life insurance provide financial security for loved ones?

• By giving a discount on the insured's mortgage payments

• By offering free healthcare to the insured's loved ones

• By providing a lump sum payment to beneficiaries upon the death of the insured.

• By providing a monthly income to beneficiaries while the insured is alive

What are the common exclusions in home insurance policies?

• Car accidents and vandalism

• Tornadoes and hurricanes

• Earthquakes, floods, war, nuclear accidents, and intentional damage

• Burglary and theft

What documents are required when filing an insurance claim?

• Insurance policy, proof of loss, police report (if applicable), relevant receipts or documentation

• Social security card, utility bills, credit card statements

• Library card, gym membership, student ID

• Birth certificate, passport, driver's license