Worksheets05.00 QUIZIZZ: Insurance Policy
Total questions: 35
Worksheet time: 18mins
The _______________ provides & sells insurance while the ________________ negotiates on behalf of the insurer.
Insurance, insurance agent
Insurance company, insurance policy
Insurance agent, insurance policy
Insurance company, insurance agent
If you rent your house, you’ll need to get homeowner’s insurance.
True
False
Which type of insurance gives you extra coverage once your primary insurance limit is met.
Disability Insurance
COBRA
Umbrella Insurance
Long Term Care Insurance
Which term below represents the total amount of money you would have to pay with insurance.
Out-Of-Pocket
Claim
Deductible
Premium
If you are impacted by an illness or injury and cannot work, this insurance will help cover your income.
Long Term Care Insurance
Disability Insurance
Health Insurance
Life Insurance
Which type of insurance is made mandatory by law in most US states?
Health Insurance
Life Insurance
Renter’s Insurance
Car Insurance
Homeowner’s insurance covers 3 categories of claims.
True
False
A similarity of short term and long-term disability insurance is that they both…
Cover 60-70% of your salary
Last 1 year
Pay out after 2 weeks confirmation
Cost 1-3% of your yearly income
If you find yourself being older with illnesses and realize you don’t have a life insurance policy, which type of life insurance will you be able to get?
Guaranteed Life
Variable Life
Whole Life
Term Life
Henry was in a car accident. Repairs to his car will cost $3,000. On his policy, the deductible is $800. How much is Henry responsible for paying towards the car repair.
None he has car insurance
$3,000
$800
$2,200
Once you are married, it is assumed that your spouse will be on your insurance policy.
True
False
If you’re looking to pay for a lower premium on an insurance policy, what can you do?
Shop for a higher deductible
Shop for a higher policy limit
Shop for a lower deductible
Shop for a lower claim
Experts recommend that if your employer offers this type of life insurance you should take it, but it’s not enough coverage on his own.
Universal Life
Term Life
Guaranteed Life
Group Life
A legal document that states your wishes regarding the distribution of your property & children is known as a(n)…
Will
Insurance
Beneficiary
Executor
Sarah is considering looking into long-term care insurance but doesn’t know when she needs to buy that coverage. What can you tell her is the appropriate age to start looking for coverage?
60-70 years old
50-60 years old
40-50 years old
30-40 years old
How much coverage do most homeowner’s insurance policies give you for the items inside your house?
70-90%
60-80%
50-70%
40-60%
If you have a long-term disability insurance policy and need to use it, how long could it be before your first payout comes?
2-4 weeks
1-2 months
2-4 months
3-6 months
Frank is 18 years old and wants to know when the best time he should get life insurance is. What will you tell him?
The younger you are the better.
Once someone else is depending on his income.
As soon as you get your first job.
Wait until you’re between the ages of 50 – 60 years old.
Fran has had a lot of health issues this year. Her policy has a $1,000 deductible and a $2,000 out of pocket amount that Fran has already met. The most recent hospital visit costs $3,000. How much of that is Fran required to pay?
$0
$1,000
$2,000
$3,000
hat does the personal property protection provide coverage for in a renter’s insurance policy?
Protection if an injury occurs
Coverage for a hotel if you are displaced because of damage
Protection for the building structure in a fire
Coverage for your items in a theft
The difference between Universal and Variable life insurance is that…
Variable allows you to pick your investments while universal does not.
Variable is risky while universal is not.
Universal allows you to pick your investments while variable does not.
Universal has a fixed premium while variable does not.
Which of the following is not something that long-term care insurance will reimburse you for?
Home Care
Assisted Living
Nursing Home
Hospital Care
This type of life insurance lasts for a specific period of time.
Whole Life
Universal Life
Term Life
Permanent Life
Homeowners' liability coverage protects you from harm caused by your pets.
True
False
If you have this type of coverage for your car insurance policy, it will only cover the damage you cause in an accident, not the damage to your own vehicle.
Comprehensive
Liability
Full Coverage
GAP
To make sure you are getting a good deal on your insurance policy you should…
Shop around
Ask friends & family
Meet Agents
All of these.
If you have actual cost value coverage you what will you get money for?
The money it will take to buy the item new today
The money for what your item was worth today
Your age can impact your car insurance premium.
True
False
Jeremy took a health insurance plan from his job. He didn’t take any extra supplemental coverage though. After having a tooth ache, Jeremey went to the dentist. Who will have to pay for that dentist visit?
The health insurance company
His employer
Dental Insurance
Jeremy from his savings
If you are low income and cannot afford health insurance, this is a government option for you to have coverage.
COBRA
Medicaid
Medicare
None of these
If you have health insurance you do not need disability insurance as well.
True
False
Which of the following is NOT one of the things renter’s insurance provides you with coverage for?
Personal Property
Income Replacement
Liability Additional
Living Expenses
What is the relationship between disability insurance & your job/activities?
The riskier your job/activities, the higher your cost of disability insurance will be.
If you don’t have a risky job you don’t need disability insurance.
The riskier your job/activities, the lower your cost of disability insurance will be.
There is no relationship between the two items.
As you’re paying for insurance and using your coverage, which cost is met and finished first?
Premium
Out of Pocket
Deductible
Claim
If an employer offers you a health insurance policy, you have to take it.
True
False
