Financial Math: Major Lines of Insurance

Which of the following is NOT one of the major lines of personal insurance listed?

• Auto

• Health

• Disability

• Homeowners

Which type of personal insurance is specifically designed to cover your residence and associated legal liabilities?

• Auto

• Health

• Life

• Homeowners

What factors do insurance companies consider when determining your auto insurance rate?

• Your driving skills and the color of your car

• Your age, your credit, your vehicle, and your location

• The brand of your car and the distance you drive daily

• Your occupation and the number of doors on your vehicle

Which type of auto insurance coverage is NOT mentioned in the document?

• Liability

• Comprehensive + Collision

• Uninsured motorist

• Personal Injury Protection

Tags

CCSS.7.RP.A.3

What is recommended to do before beginning the car-buying process?

• To choose the color of the car

• To decide on the car brand

• To shop for quotes for your preferred coverage

• To calculate the car's fuel efficiency

How often should you compare rates to maintain the lowest price on your auto insurance?

• Every 3 - 6 months

• Every 6 - 12 months

• Once every two years

• Every time you drive

Tags

CCSS.6.RP.A.3B

What might a health insurance company consider when deciding to accept or reject a client?

• The client's favorite color

• The client's choice of primary care physician

• Pre-existing conditions and missed payments

• The client's educational background

What is a copay in the context of health insurance?

• A bonus paid to the healthcare provider

• A discount offered on medical bills

• A flat fee paid by the insured for each doctor's visit

• The total cost of health insurance

Tags

CCSS.3.OA.D.9

Which of the following is encouraged by some types of health insurance plans?

• Seeking care only in emergency situations

• Getting care from the plan's network of doctors, hospitals, pharmacies, and other medical service providers

• Avoiding visits to any medical service providers

• Paying the full amount for all medical services without insurance coverage

How can an individual obtain health insurance if they do not have an employer-based option?

• Through a government grant

• By winning a lottery

• Through insurance exchanges created by the Affordable Care Act (ACA)

• They cannot obtain health insurance