Insurance

Front

Which type of insurance is likely to be the lowest priority for a single, working, 24-year-old? Options: Health insurance, Disability insurance, Life insurance, Auto insurance

Back

Life insurance

Front

The federal agency that oversees insurance companies is

Back

Insurance companies are regulated on a state-by-state basis

Front

What role does insurance play in financial planning?

Back

It guarantees that income and assets are protected

Front

The out of pocket cost to the insured when a loss occurs is called...

Back

Deductible

Front

A stone hits your windshield. Which type of coverage would likely cover this expense?

Back

Comprehensive

Front

Each of these factors impacts your insurance premium EXCEPT...
Deductible amount, The vehicle you are insuring, Your credit score, Your income

Back

Your income

Front

Which of the following wouldn't save you money on your auto insurance premium?
Options:
Decrease your deductible,
Reduce or eliminate optional insurance on an older vehicle,
Maintain a good credit history,
Bundle your insurance with other policies

Back

Decrease your deductible

Front

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

Back

26

Front

Which of the following would be covered under a renter's insurance policy?
- Damage to the exterior of the property
- Medical bills of another person who is injured on the property
- Your roommate's personal belongings in the rental unit
- Damage to a detached shed on the property

Back

Medical bills of another person who is injured on the property

Front

True or False: Insurance is based on the concept of shared risk, or risk pooling.

Back

True