Insurance Quiz

What does health insurance provide?

• Payment for gym memberships

• Payment to people who suffer a financial loss due to illness or injury

• Payment for cosmetic surgery

• Payment for travel expenses

What is a premium in terms of insurance?

• A one-time payment for a policy

• A regular payment made to an insurance company for coverage

• A refund from an insurance company

• A penalty for late payment

Who is a policyholder?

• A person who sells insurance policies

• A person who buys an insurance policy or subscribes to it through an employer

• A person who evaluates insurance claims

• A person who designs insurance plans

What is a deductible in an insurance policy?

• The total cost of the insurance policy

• The amount of money a policyholder must pay before the insurance covers the claim

• The monthly payment for the insurance policy

• The interest rate on the insurance policy

What is co-insurance or co-pay?

• The full cost of the insurance policy

• The share of costs for covered services that an individual must pay out of pocket

• The amount refunded by the insurance company

• The premium paid for the insurance policy

What does life insurance provide?

• Payment for medical expenses

• Payment to a specific person or persons when the policyholder dies

• Payment for travel expenses

• Payment for home repairs

What does disability insurance insure?

• The beneficiary's earned income against the risk of sickness or injury making work impossible

• The beneficiary's property against theft

• The beneficiary's car against accidents

• The beneficiary's home against natural disasters

What is homeowner's or renter's insurance designed to protect?

• An individual's car against accidents

• An individual's home and belongings against damages and theft

• An individual's health against illness

• An individual's travel plans against cancellation

What is GAP insurance?

• Insurance for health care providers

• Insurance for travel expenses

• Auto insurance that covers losses when compensation does not fully cover the amount owed on the vehicle

• Insurance for home repairs

What is supplemental insurance?

• Basic health insurance

• Extra insurance for services and expenses not covered by regular insurance

• Insurance for pets only

• Insurance for home appliances