________ is a loss of money or decrease in value.

________ is a formula that measures profit or loss based on an original investment.

________ is a category of risk that, when undertaken, results in an uncertain degree of loss or gain.

________ is a risk control strategy that attempts to eliminate any loss by avoiding the action producing the risk completely.

________ is reducing the influence and effect of uncertainty and loss of value by identifying risks and creating a financial plan to manage those risks through risk control (mitigation) strategies.

________ is accepting that the amount at risk is worth the risk taken or that the cost of risk mitigation is too high.

________ is a risk control strategy where the risk of loss or gain is shared with another person, entity, or group.

________ is a health insurance law and program enacted in 2010.

________ is the additional amount the insured agrees to pay per instance after the deductible has been paid.

________ is one of the first few pages of an insurance policy that summarizes the terms of the policy, including coverage, limits, deductibles, discounts, maximums, and other relevant forms or endorsements.

________ is the amount the policyholder must pay out of pocket before the insurance policy begins to pay against the claim.

________ is coverage purchased from a company that provides a person or entity with financial protection against financial loss or harm caused by accident, illness, fire, or death.

________ is a health service provider that is not part of an insurance network and does not accept the contracted price for services.

________ is a health service provider that is part of an insurance network and accepts the contracted price for services.

The maximum amount the insurance policy is required to pay out on a claim is called _________.

The amount paid by an insured person to the insurer providing coverage is called _________.

A health plan selected by an employer to offer to its employees is called _________.

A set of 10 categories of services that health insurance plans must cover under the Affordable Care Act is called _________?

A health insurance program run by the government and offered to qualifying individuals is called _________.

An online insurance marketplace established by the ACA is called _________.

A health insurance policy for those who do not have access to employer provided health plans and do not qualify for government provided plans is called _________.

A health insurance program for the benefit of low-income adults and families is called _________.

The maximum amount a policyholder has to pay per year before the health plan pays 100% of in-network expenses is called _________?

A federally sponsored nationwide health insurance program that subsidizes services and is for the benefit of anyone over the age of 65 and younger people with certain disabilities is called _________.

An insurance policy sold by companies to individuals to help cover costs for the day-to-day care of people with chronic illnesses, medical conditions, disabilities, or disorders like cancer, Alzheimer’s, or the limitations of old age is called _________.

A type of disability insurance, either employer-sponsored or individually purchased, that provides income protection should a person become unable to work for a long period of time due to illness, disability, or injury is called _________.

A type of disability insurance, often sponsored by the employer as part of employee benefits, is called _________.

________ is a program run by the Social Security Administration designed to provide income to the disabled who are not able to work for at least a year and are under 65 years of age.

________ is a need-based program run by the Social Security Administration and only considers the financial need of the individual who is disabled.

________ is a type of insurance paid for by the employer, providing income protection and medical benefits to workers injured while performing their job.

The person(s), entity, or trust named to inherit assets, including insurance policy death benefits, after a person passes away is called a ________.

The portion of your policy that earns interest and may be available for withdrawal or to be borrowed against under certain circumstances is called ________.

The contracted amount of money to be paid out upon the death of the insured to their beneficiaries is called the ________.

A policy purchased by the policyholder that commits the insurance company, in exchange for premiums, to pay a specific amount of money to the named beneficiaries when the insured passes away is called ________.

Fill in the blank: Optional addendums to the life insurance policy to address specific needs often requiring an additional premium payment are called ________.

A type of non-permanent life insurance that has a fixed premium and a guaranteed death benefit if the insured passes away during the stated term is called ________.

The most common permanent life insurance policy, whose coverage lasts as long as the premiums continue to be paid, is called ________.

A type of permanent life insurance similar to whole life but offers lower rates on premiums and flexibility on how to invest the cash value is called ________.

Reimbursement calculated by taking the actual cost to replace the loss and reducing it by some amount due to depreciation, age, and/or wear-and-tear is called ________.

A type of property insurance that covers any type of risk except for those specifically excluded. What is this called?

Financial coverage for structural improvements or alterations to the dwelling, personal property, personal liability, and some losses assessed by the condo owner’s association. What is this called?

Part of your property insurance that provides financial protection for the inside and outside of the physical building. What is this called?

An insurance category that provides financial protection for your dwelling or physical home and possessions against loss. What is this called?

Financial coverage for a private home. What is this called?

Financial protection in case someone else is hurt and/or injured on your property or in an accident you caused elsewhere for which you are found liable. What is this called?

A type of property insurance that covers personal property loss caused by the specific perils named in the policy. What is this called?

All of the objects in your home and other material goods not permanently attached to the dwelling. What is this called?

Financial coverage for personal property, liability, and loss of use. What is this called?

Reimbursement based on the replacement cost for a new item at today’s prices is called:

An optional addendum to an insurance policy to address specific needs requiring additional premium payment. What is this called?

Insurance that provides financial protection if/when the policy holder or someone driving the policy holder’s car has an accident and hurts someone or damages property. What is this called?

Insurance required in almost every state which covers injury or death to others that is caused by the named driver or car. What is this called?

Optional insurance that covers the cost of damage to the named car caused by an accident. What is this called?

Option coverages for damages from incidents other than car accidents. What is this called?

What is Personal Injury Protection? ________ is insurance required in most states which covers medical costs to the driver and passengers of the named vehicle.

What is Property Damage Liability? ________ is insurance required in some states that covers damage to other people’s property that is caused by the named driver.

What is Uninsured/Underinsured Motorist insurance? ________ is insurance required in some states that covers damage to the named car if the other driver does not have sufficient insurance coverage.

What is Accidental Death and Dismemberment Life Insurance? ________ is a type of insurance that pays upon accidental death or the loss of hearing, speech, eyesight, or limbs.

What is Car Loan Payoff Coverage? ________ is a type of insurance policy that should the car be totaled or stolen, pays a percentage of the car’s cash value to help cover the remaining loan.

________ is an optional, specialized insurance plan for any type of loan that is designed to pay off specific debts in the case of death or disability.

What is a Debt Cancellation Contract? Fill in the blank: ________ is a contract between the lender and borrower which cancels out all or part of an outstanding loan due to a death, loss of job, or disability.

What is Gap Insurance? ________ is a type of debt cancellation contract that, should the car be totaled or stolen, covers the entire amount remaining of the loan.

________ is to use the identity of a child to create a credit history.

What is Financial/Tax Identity Theft? ________ is when an unauthorized person uses someone else’s identity to gain access to money or credit, or file taxes with the purpose of stealing tax refunds.

What is an Identity Protection Service? ________ is a service that monitors all of the subscriber’s accounts, along with their credit, personal information and social security number, looking for fraudulent behaviors.

What is Identity Theft? ________ is to acquire or steal someone’s personal information including their name, social security number or other ID number to use or sell in a fraudulent manner.

Phishing – ____________

Red Flags – ____________

Synthetic Identity Theft – ____________

Check-Cashing – ____________

Home Renovation Scams – ____________

Investment Scams – ____________ (Fill in the blank with the correct definition: A fake investment opportunity.)

Mark – ____________ (Fill in the blank with the correct definition)

Pyramid scheme – ____________