Insurance Basics

A deductible is paid by

• The insurance company

• the claims adjuster

• The government

• The policy holder

Insurance that will pay for injury to another driver and/or damage to their car if you are in an accident is called...

• uninsured motorist insurance

• collision insurance

• comprehensive insurance

• liability insurance

What does liability insurance not cover in the event of an accident?

• Injury to yourself

• Injury to the other driver

• Damage to someone else’s property

• Damage to someone else’s car

What is a consequence of not having health insurance?

• You must pay all costs for health care and medical emergencies.

• You’re not allowed to go to a hospital.

• You will get a lower standard of care from doctors.

• You can only see doctors in your home state.

Collision insurance is...

• insurance that will pay for injury to another driver and/or damage to their car if you are in an accident.

• insurance that will pay for damage to your car by someone who doesn’t have insurance.

• insurance that will cover injuries to yourself in the event of an accident.

• insurance that will pay to get your car fixed in the event of an accident.

Under current law, until what age can a child stay on their parents' health insurance?

• 18

• 21

• 26

• 29

Your health insurance copay is

• Amount paid out of pocket before your insurance coverage

• Paid by the insurer

• Applied on an annual basis

• A fixed amount of money you pay each time you use your plan

A financial product purchased by many people facing a similar risk to protect against the risk of larger losses is called

• Emergency Fund

• Stock

• Insurance

• Roth IRA

Requires the insured individual to pay a fixed percentage of the loss after the deductible has been paid.

• deductible

• premium

• co-insurance

• co-pay