Insurance Quiz

What type of insurance covers you if your dog ate your toy doll and got sick?

• Home insurance

• Pet insurance

• Life insurance

• Health insurance

What is a co-pay?

• The full cost of a medical service

• Your share of the medical episode cost

• A type of insurance policy

• A tax on medical services

What might increase if you have a pre-existing condition?

• Deductible

• Premium

• Co-pay

• Coverage

Which of the following is NOT true about deductibles?

• They are paid by the policyholder

• They are paid before the insurance company pays a claim

• They increase the total cost of a claim

• They decrease the premium cost

What is the trade-off when selecting a deductible amount?

• Higher deductible, higher premium

• Lower deductible, lower premium

• Higher deductible, lower premium

• Deductible does not affect the premium

How is "Cash Value" determined?

• By the insurance company's policy

• By the appraised value

• By what you value the asset

• By the payout amount

Which term refers to the amount the insurance company covers for your expenses?

• Cash Value

• Replacement

• Reimbursement

• Payout

Which term is related to the amount given to beneficiaries in an insurance policy?

• Reimbursement

• Replacement

• Payout

• Cash Value

Which term is linked to the appraised value of an asset?

• Cash Value

• Replacement

• Reimbursement

• Payout

What does Whole Life insurance provide?

• Coverage for a period of time

• Coverage until you die

• Coverage for specific events

• Coverage for accidents only