NEW
Font size
WorksheetsPersonal Finance Chapter 9: Insurance
Total questions: 22
Worksheet time: 22mins
The recipient of assets passed on
Beneficiary
Claim
Will
Liability
Amount you pay in order to purchase insurance
Deductible
Claim
Premium
Out-of-Pocket Expense
Amount you must pay when filing a claim before receiving any benefits
Premium
Deductible
Out-of-Pocket Expenses
Coverage
The amount of protection you have through an insurance policy
Beneficiary
Claim
Liability
Coverage
Which type of insurance should you not need right after high school?
Renter's/Homeowner's
Life
Auto
Health
The purpose of insurance is to
Make your family wealthy
Invest
Save for a rainy day
Transfer risk
Covers the damage to your own car if it is hit by another car
Liability
Collision
Comprehensive
Uninsured Motorist Protection
Covers the costs of damage to another driver when you cause an accident
Liability
Comprehensive
Collision
Uninsured Motorist Protection
Covers your costs if you are hit by a driver that doesn't have insurance or you are the victim of a hit and run
Liability
Collision
Comprehensive
Uninsured Motorist Protection
Takes care of damage to your car not caused by a collision (fire damage, stolen vehicle, etc)
Liability
Collision
Comprehensive
Uninsured Motorist Protection
The time between the disabling event and the beginning of payments in your disability coverage
Deductible
Out of pocket expense
Stop gap
Elimination period
This insurance is required by law
Renter's
Life
Auto
Disability
Provides for nursing homes or in-home care
Disability
Long-term care
Health
Life
Provides income if you have a health condition that keeps you from working
Health
Disability
Life
Accidental death
You should buy at age 60.
Life
Long-term care
Health
Disability
Can be either term or cash value
Life
Health
Long-term care
Disability
Increase this in order to lower your premium
Coverage
Claim
Income
Deductible
Which is NOT a way to get a good deal on car insurance as a teen driver?
Get good grades.
Drive less.
Shop around.
Take a driver education class.
A legally enforceable declaration of how a person wishes his property to be distributed after death
Will
Life insurance
Beneficiary
Policy
Which of the following insurances should be avoided?
Long term disability
Homeowner's
Identity theft protection
Credit card protection
Which of the following is the only one Dave recommends you should buy under a specific condition?
Cancer Coverage
Mortgage Life Insurance
Credit Card Protection
Prepaid Burial Policy
When is the only time you should buy mortgage life insurance?
If you don't qualify for life insurance.
If you own your home.
If you know you will die before your house is paid off.
If you want to leave your house to your kids after you die.
