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Insurance Terms

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

A formal request made by the insurance policyholder to the insurance company for payment or services covered by the insurance policy.

a)

Claim

b)

Accident

c)

Premium

d)

Coverage

2.

An type of car insurance policy that provides complete protection.

a)

Deductible

b)

Comprehensive

c)

Liability

d)

Total

3.

The types of events (losses) that an insurance company would pay for and the amount of money paid for the loss.

a)

Premium

b)

Deductible

c)

Coverage

d)

Claim

4.

The amount you must pay on a claim before the insurance company will pay.

a)

Premium

b)

Policy

c)

Loss

d)

Deductible

5.

A financial product (called an insurance contract or policy) that you buy from an insurance company or organization.

a)

Insurance

b)

Premiums

c)

Stocks

d)

Bonds

6.

A licensed representative who handles the purchase of insurance between the customer and the insurance company.

a)

Business Agent

b)

Insurance Agent

c)

Free Agent

d)

Bond Agent

7.

Death, injury, or damage that could result in an insurance claim.

a)

Term

b)

Loss

c)

Deductible

d)

Premium

8.

A contract of insurance

a)

Policy

b)

Premium

c)

Deductible

d)

Claim

9.

The person to whom an insurance policy is issued.

a)

Agent

b)

Salesman

c)

Broker

d)

Policyholder

10.

A payment made monthly, twice a year, or yearly, for an insurance policy.

a)

Premium

b)

Copay

c)

Tax

d)

Benefit

11.

Automobile, home, and renters are types of

a)

Property Insurance

b)

Adjustable Insurance

c)

Premium Insurance

d)

Life Insurance

12.

Chance or possibility of injury, damage, or loss that someone may want an insurance policy to cover.

a)

Debt

b)

Risk

c)

Premium

d)

Agent

13.

To commit money to gain a profit or earn interest.

a)

Invest

b)

Banking

c)

Stocks

d)

Bonds

14.

The amount of money an insurance policy holder must pay on a claim before the insurance company begins to pay. The higher this is, will usually result in a lower premium.

a)

Premium

b)

Claim

c)

Deductible

d)

Policy

15.
Insurance to protect your personal home.
a)
comprehensive 
b)
renter's
c)
property damage
d)
homeowner’s 
16.
Insurance to protect your personal items in your rented apartment or rented house.
a)
homeowners
b)
renters
c)
property
d)
liability
17.
Insurance to cover health events like going to the doctor.
a)
health
b)
long-term care
c)
life
d)
disability
18.
Insurance that helps cover your income from a job when you can no longer do your job due to health reasons.
a)
life
b)
medical
c)
long term care
d)
disability
19.
Protection for your identity to clean things up when you experience fraud.
a)
identity theft
b)
property
c)
liability
d)
premium
20.
Insurance that will pay someone you have chosen in the event you die.
a)
long-term care
b)
life
c)
risk
d)
broad collision