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WorksheetsFringe Benefits - Insurance Types Test
Total questions: 20
Worksheet time: 5hrs 0mins
The amount paid for insurance is the...
Closing Cost
Premium
Deductible
Assessed Value
Insurance that protects your family against financial loss due to your death is...
Co-insurance
Disability Insurance
Health Insurance
Life Insurance
The type of insurance that provides protection against financial loss from medical bills is called...
Co-insurance
Disability Insurance
Health Insurance
Life Insurance
The person named in a life insurance policy to receive the death benefit is called the...
Beneficiary
Policy Holder
Recipient
Insurance Agent
The amount you MUST pay out of pocket before insurance takes over is called the...
Premium
Bonus Payout
Term Payment
Deductible
If you can not work due to a health condition or injury, this type of insurance will pay you a portion of the income you lose.
Co-insurance
Disability Insurance
Health Insurance
Life Insurance
Out of pocket maximum is the least amount of money you will have to ever be responsible for paying in one year.
True
False
What is a copay?
(Health Insurance)
Your % share of the costs of a service.
The amount you pay before the insurance starts paying.
A fixed amount you pay for services.
How much I pay each month for the plan.
What would be an example where a co-payment would be used?
$20 for seeing the doctor.
A ride in a sports car.
A work meeting.
A nice meal at a restaurant
What is a policy?
A contract of insurance.
A selling of insurance.
Term life insurance
Whole life insurance
Who could be considered a dependent?
Spouse
Children
Aging Parent
Business Partner
All of these
Insurance that provides protection against loss of life for only a specified term, or period of time.
Term
"Perm"
What happens if you stop paying your premiums for any kind of insurance?
The coverage stops
The coverage continues
The coverage changes to a new plan
You own the insurance company
A permanent policy for which you pay a specified premium each year for the rest of your life.
Term
"Perm"
True or False:
Never study the provisions, or conditions, in your policy and be sure to update the necessary information as changes in your life occur.
True
False
When should people consider disability insurance?
When they get married
When they graduate from college
When they start a full-time job
When they retire
Employers must provide all employees with health, life, and disability insurance free of charge.
True
False
Disability Insurance can cover you until what age?
45
55
65
75
A computer technician is in an accident on his way home from work and breaks both wrists.
Which of his insurance plans will provide him with income while he is out of work recovering for six weeks?
Short-term Disability Insurance
Long-term Disability Insurance
Workers' Compensation
Health Insurance
Which of the following could require long-term disability to cover costs?
Broken leg
Degenerative disease
Flu
None of these
