Health and Life Insurance Quiz

Type of insurance that helps individuals and families pay for medical care and provides coverage for expenses due to illness or injury.

• Car insurance
• Life insurance
• Home insurance
• Health insurance

The amount you pay for health insurance every year is called an __________.

• monthly deduction

• co-payment

• quarterly contribution

• annual contribution

The amount you pay for health insurance every month is called a ____________.

• monthly deduction

• copayment
• coverage
• annual premium

The annual premium is $13,760. The employer pays 80% of the total contribution. What is the annual contribution? (Hint: First, find the employee's percent)

• $2,752
• $3,450
• $4,320
• $5,680

The annual premium is $9,276. The employer pays 70% of the total cost. The annual contribution is $2,782.80. What is the monthly deduction? (Hint: First, find the employee's percent)

• $231.90

• $400.75

• $500.90

• $331.29

Which of the following terms is NOT associated with health care costs?

• deductible

• life insurance

• co-payment

• co-insurance

• hospital charges

Rachel Lithgow has a network family health insurance plan. Her network healthcare costs include co-payments for 7 physician visits and 5 specialist visits. She also paid for 2 emergency room visits. She had network hospital charges total $7,650 what amount did she pay?

• $2,500

• $2,550

• $2,850

• $3,550

Insurance that pays a sum of money either on the death of an insured person or after a set period.

• Home insurance
• Car insurance
• Life insurance
• Health insurance

Type of insurance that only lasts for a certain period of time. It is the least expensive form of life insurance.

• Term life insurance
• Universal life insurance
• Variable life insurance
• Whole life insurance

The person who receives the face value of the policy if the policyholder dies.

• insurer
• policyholder
• beneficiary
• premium payer