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Insurance (1)

Total questions: 21

Worksheet time: 11mins

Name
Class
Date
1.
The color of your vehicle can increase the cost of your insurance premiums.
a)
True
b)
False
2.

The person who gets the money when the insured person dies is called a:

a)

Beneficiary

b)

Policy Claim Holder

c)

Comprehensive Refund Holder

d)

Insurance Pay-off Receiver

3.

The total cost of buying insurance, usually per year...

a)

Premium

b)

Coverage Cost

c)

Deductible

d)

Policy

4.

Renters Insurance:

a)

Covers damage to property and personal property.

b)

Insures against damage due to fire.

c)

Covers loss or damage to a renters personal possessions.

5.

What is Health Insurance?

a)

Health Insurance is an insurance contract that describes the type and amount of coverage, as well as premiums and deductibles.

b)

Health Insurance pays for the medical and surgical expenses when an accident happens and you get insured enough to see a doctor.

c)

Health Insurance pays for any damage in an accident when the accident is your fault.

d)

Health Insurance pays for your needs after retirement.

6.

Martin must file a _______ after an accident in order to let the insurance company know about the accident (and hopefully pay for said accident).

a)

Premium

b)

Insurance report

c)

Benefit paper

d)

Claim

7.

What is the amount called the insured person must meet by paying out of pocket before the health insurance pays anything?

a)

Premium

b)

Deductible

c)

Co-payment

d)

Pre-payment

8.

This provides you with some financial protection on a vehicle in case of an accident...

a)

Disability Insurance

b)

Car-Keeping Insurance

c)

Collision Force Insurance

d)

Automobile Insurance

9.

In a whole life insurance policy, this is the accumulated savings to which one is entitled to when and if one cancels the policy:

a)

Deductible

b)

Cash Value

c)

Benefit Period

d)

Premium

10.

Angelica must pay whenever she receives a covered service (like going to the doctor). This is called:

a)

Co-pay

b)

Premium

c)

Claim

d)

Annual deductible

11.

The money a family or beneficiaries receive from a life insurance policy upon the death of the insured:

a)

Death cash-in

b)

Deductible

c)

Policy

d)

Death benefit

12.

Sarah cannot work because she has an illness that makes it very hard for her to do so. However, she still receives money, because she has:

a)

High refund rate

b)

An annual deductible

c)

Disability Insurance

d)

Renters Insurance

13.

Robert makes sure to take advantage of ________ by checking the price of the product in other stores before choosing the best price.

a)

Comparison Shopping

b)

Consumer Counseling Services

c)

Buyers Remorse

d)

Window-Shopping

14.

Insurance that covers damage to one's vehicle when it is involved in an accident:

a)

Liability Insurance

b)

Collision Insurance

c)

Automobile Wrecking Insurance

d)

Life Insurance

15.

A benefit period is best described as:

a)

The length of time during which a benefit is paid

b)

The due date of the annual deductible

c)

When all claims are added up and sent in a report to the policyholder

d)

When one does not have to pay co-pay for services

16.

A formal request for payment related to an event or situation that is covered under an insurance policy:

a)

Annual deductible report

b)

Claim

c)

Beneficiary paper

d)

Insurance report

17.

Means a driver of a motor vehicle, or a class of such drivers, who would be denied insurance coverage by insurance companies, but are required to be covered under U.S. state law:

a)

Assigned Risk Pool

b)

Deductible Insurance

c)

Collision Insurance Policy

d)

No-fault Insurance

18.

The amount you pay for covered health care services before your insurance plan starts to pay each plan year:

a)

Yearly Insurance Claim

b)

Annual Rate

c)

Annual Deductible

d)

Comprehensive

19.

This is the dollar amount that a bondholder will receive at a bond's maturity; also the value printed on a coin, banknote, stamp, etc.

a)

Dollar Amount Payoff

b)

Premium Value

c)

Claim Refund

d)

Face Value

20.

The whole point of insurance:

a)

To protect against possible financial loss

b)

To stop others from destroying property of someone

c)

So you don't have to pay for accidents you cause

d)

To protect your home from burglars

21.

Coverage that provides protection for a residence and its associated financial risks such as property damage and injuries to others:

a)

Civilian Insurance Claim

b)

Property Damage Liability Insurance

c)

Homeowners Insurance

d)

Renters Insurance