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WorksheetsGeneral Insurance Qs
Total questions: 12
Worksheet time: 6mins
The amount you pay for insurance coverage.
Premium
Deductible
Co-Pay
Policy
The contract which details your insurance coverage.
Premium
Deductible
Co-Pay
Policy
The amount of money you must pay upfront/out of pocket before your insurance coverage begins to pay.
Premium
Deductible
Co-Pay
Policy
The amount of money you must pay upfront/out of pocket at a medical office before seeing the doctor/specialist.
Premium
Deductible
Co-Pay
Policy
If you have a higher premium it will usually mean a ________ deductible.
Higher
Lower
You must file a _______ for reimbursement or asking the insurance company to pay.
coverage
claim
deductible
policy
Specified losses that the insurance company does not cover are called
Non-deductible
Exclusives
Extraditions
Exclusions
Insurance is described as “sharing the risk” because risk is shared
With other policyholders
With the insurance agent
With the government
Within your policy and coverage
You’ve submitted your first claim with your insurance company for $2,000. They pay $1,500. Why?
You have a $500 premium to pay first
You have a $500 deductible to pay first
You have a limit of $1,500 on claims
You have a $500 new claim clause
Deductibles are calculated on a(n) ________ basis.
daily
monthly
annually (yearly)
throughout the life of the policy
The legal responsibility to pay the cost of another person’s losses or injuries
Deductible
Policy
Coverage
Liability
Why do you get insurance? (Hint: Select 2 correct answers)
Decrease financial cost when things go wrong
Decrease the odds that something bad will happen
Spreads the cost out over time (better for budgeting)
Increases the potential negative impacts
