Chapter 11 Managing Risk: Insurance

A regular payment made to purchase insurance coverage is known as a _________________.

• premium

• reduction

• billable

• monetary award

Buying life insurance is one method of_______________.

• risk avoidance

• risk-taking

• risk transfer

• risk retention

In general, health-care costs have been _______________ in recent years.

• decreasing

• constant

• stagnant

• increasing

Health care plans that allow members to seek health care from any medical provider are known as ________________.

• managed care plans

• health seeker plans

• indemnity plans

• participant plans

Health-insurance plans may limit coverage based on all of the following factors except _______________.

• gender

• location where the care is provided

• preexisting conditions

• length of hospital stay

When an insured person shares in the cost of a specific treatment at the time it is rendered, it is known as a(n) ___________________.

• premium

• co-pay

• provider

• expanded cost

A ___________________ is the designated recipient of the proceeds of a life insurance policy.

• beneficiary

• designator

• relative

• policyholder

Life insurance that provides coverage for a set period of time and builds savings for the policyholder is called _______________.

• term life

• whole life

• universal life

• dedicated life

Life insurance coverage is sometimes provided by your _________________.

• employer

• gym

• health care provider

• local government

The legislation that ensures you can transfer jobs and still gain access to health insurance at your new job is known as ___________.

• FICA

• HIPAA

• COBRA

• PPO