Insurance Unit Vocab

The amount paid for insurance is the

• closing cost
• premium
• deductible
• assessed value

The out of pocket cost to the insured when a loss occurs is called...

• Premium

• Deductible

Insurance that protects your family against financial loss due to your death is

• coinsurance
• disability insurance
• life insurance
• comprehensive insurance

The type of insurance that provides protection against financial loss from medical bills is called

• health insurance
• coinsurance
• life insurance
• premium

The type of insurance that covers damage or loss to a vehicle from fire, theft, vandalism, or hail is called

• term life insurance
• bodily insurance
• comprehensive
• collision

This type of insurance pays the fees of other doctors who see you in or out of the hospital.

• hospitalization insurance
• disability insurance
• medical insurance
• life insurance

If you can not work due to a health condition or injury, this type of insurance will pay you a portion of the income you lose.

• disability
• health
• premium
• hospitalization

A formal request to an insurance company asking for a payment when the policyholder has an acciden, illness or injury

• emergency savings
• coverage
• claim
• employee benefits

This type of insurance should pay for damages if a tree that goes through your roof.

• Product

• Health

• Homeowners

• Life

This is the minimum required by law, only repairs the vehicle you hit, not your own

• Liability

• Collision

• Comprehensive

• Deductible