PF OBJ 6.05 Vocab

Front

Automobile insurance

Back

Payments for liability and property insurance on a vehicle

Front

Beneficiary

Back

Receives money if an insured person dies.

Front

Claim

Back

A formal request to an insurance company for payment due to an accident, illness, or injury.

Front

Co-insurance

Back

Requires the insured to pay a fixed percentage of the loss after the deductible.

Front

Coverage

Back

Risks covered and amount paid for losses under an insurance policy.

Front

Deductible

Back

Out-of-pocket money paid by the policyholder before insurance covers remaining costs.

Front

Dependent

Back

Someone who relies on someone else for income and care

Front

Disability insurance

Back

Provides payment to replace earnings when workers cannot work due to illness or injury.

Front

Emergency savings

Back

Cash set aside for unexpected expenses.

Front

Employee benefits

Back

Employers may offer benefits as products or services that add value beyond wages.