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WorksheetsChapter 9 Insurance Dave Ramsey Key Terms Quiz
Total questions: 11
Worksheet time: 6mins
The recipient of assets passed on from the death of a friend or relative
Beneficiary
Will
Paperwork filed with an insurance company in order to get them to cover a loss for someone they insure
Premium
Claim
Financial cost of obtaining an insurance cover, paid as a lump sum or in installments during the duration of the policy
Premium
Claim
A fixed amount you pay for a covered health care service after you've paid your deductible
Copayment
Liability
The maximum benefit an insurance company will pay a policyholder if/when an insured event occurs.
Policy Limit
Premium
Amount you must pay before you begin receiving any benefits from your insurance company
Deductible
Coverage
The state or quality of being obligated according to law or equity (minimum car insurance required by most states)
Liability
Beneficiary
Specific amount of money that you pay when insurance only covers a portion of costs.
Out-of-pocket expense
Premium
Describes the type of coverage in an insurance agreement Premium: Amount you pay monthly, quarterly, semiannually, or annually to purchase different types of insurance
Will
Policy
A legally enforceable declaration of how a person wishes his or her property to be distributed after death
Will
Policy
The time between the disabling event and the beginning of payments in your disability coverage is called:
Elimination period
Will
