Insurance Lesson

Insurance to protect your personal items in your rented apartment or rented house.

• homeowners

• renters

• property

• liability

A product that transfers risk from an individual to an insurance company or organization

• insurance

• premium

• policy

• risk

The money paid to an insurance company to purchase a policy

• deductible

• insurance

• premium

• policy

Liability insurance covers accidental harm that may be caused to other people or property

• True

• False

This term pays for protection against loss of life, property, and finances.

• collision

• premium

• insurance

• deductible

The amount paid for insurance is the

• closing cost

• premium

• deductible

• assessed value

Someone who receives money if an insured person dies

• claim

• beneficiary

• dependent

• employee benefits

What is the primary purpose of insurance in society?

• To increase wealth

• To transfer risk

• To avoid taxes

• To promote spending

Which of the following is a type of insurance that covers damage to your own vehicle in an accident?

• Liability insurance

• Collision insurance

• Health insurance

• Life insurance

What is a premium in the context of insurance?

• A type of insurance policy

• The amount paid for insurance coverage

• The person who sells insurance

• The risk covered by insurance