Insurance and Investing

Match the following

• Person who evals. damage

• Open Enrollment

• Person who sells insurance

• Adjuster

• Time new persons can sign up for insur.

• Agent

• Unmeasurable level of volatility/harm.

• Risk

• Descrip. of policy. Will/won't pay for.

• Coverage

Match the following

• Monthly cost to keep insurance.

• Deductible

• Pay into in case something bad happens.

• Insurance

• Yearly fee, fixed $ amount.

• Annual Max Payout

• Yearly limit on medical bills.

• Premium

• Fraud, getting $ for fake loss/claim.

• Scam

What type of insurance is required by Illinois state law?

• Life

• Dental

• Car

• Disability

The number one cause of bankruptcy is medical debts.

• True

• False

Which type of insurance is NOT essential?

• Medical

• Phone

• Life

• Boat

What can raise the cost of your insurance premium? Choose all that apply.

• Being between 30 and 50.

• A safe driving record.

• Owning multiple vehicles.

• Being under 25.

Hurricane Katrina nearly bankrupted the home insurance industry.

• True

• False

Who needs health insurance?

• Old people

• People who get sick a lot.

• Children down with disabilities.

• Medical costs are unpredictable, so everyone needs it.

All insurance is basically the same thing.

• True

• False

Younger people should skip out on medical insurance to save money for the baby steps.

• True

• False