Insurance Terminology Quiz

A group of people who are unable to obtain automobile insurance due to high risk __________.

Is the amount of money that Michael, a life insurance policy holder, can take by either borrowing against or cashing in his policy (a)   .

Imagine Luna has dependents and wants to ensure they have financial support after her passing. The type of insurance that provides income to her dependents after she dies is (a)   .

Imagine Mason is driving with his family when they are involved in a severe car accident. Despite who is at fault, which type of insurance coverage pays for medical, hospital, and funeral costs of Mason's family and passengers? __________ Personal injury.

A company that provides financial protection against specific types of loss is called __________.

The amount regularly paid for an insurance policy is called (a)   .

Covers the insured, such as Mia, for a particular time period usually 5-10 years (a)   .

Amount received by beneficiaries after insured dies __________.

Requires the policy holder to pay premiums throughout the insured’s life (a)   .

The protection provided by the terms of the insurance policy is referred to as (a)   .