WorksheetsW!se Review - Insurance
Total questions: 20
Worksheet time: 10mins
An insurance premium is paid by...
the policyholder.
the insurance company.
the government.
the beneficiary.
Why is it important to have insurance?
It helps people save money on their taxes.
It's important to have insurance so people can protect themselves from losing a lot of money in the event of an unpredictable event or something happens to them or their property.
It allows individuals to invest in high-risk ventures without concern.
It guarantees that all medical expenses will be covered regardless of the situation.
What do people purchase as a form of risk management to protect themselves from losing a lot of money in the event something happens to them or their property?
Insurance
Savings Account
Stocks
Real Estate
An insurance deductible is...
the amount you owe before insurance will cover the rest of the bill.
the total amount of your insurance premium for the year.
the maximum amount your insurance will pay for a claim.
the percentage of the claim you are responsible for after coverage.
Why should you purchase insurance?
To prevent financial burden in the case of an accident, theft, or another event.
To increase your savings and investments.
To avoid paying taxes on your income.
To ensure you can buy luxury items without worry.
Buying a home security system is an example of protecting your home against________.
risk
opportunity
uncertainty
liability
What is a consequence of not having health insurance?
You must pay all costs for health care and medical emergencies.
You receive free medical care from hospitals.
You can choose any doctor without restrictions.
Your medical expenses are covered by the government.
If you get into a car accident, your _______________ may increase because you will be considered riskier for insurance companies to cover.
insurance premium
deductible
coverage limit
policy excess
How is having a security system for your home a risk management strategy?
It increases the value of your home.
The security system will alert authorities and deter criminals, protecting your valuables and property.
It provides a false sense of security.
It is a legal requirement in many areas.
A deductible is paid by...
the policyholder.
the insurance company.
the beneficiary.
the agent.
What does liability insurance not cover in the event of an accident?
Injury to yourself
Damage to another person's property
Medical expenses for others
Legal fees for defense
An insurance premium is...
the amount of money you pay for an insurance policy.
a type of investment that guarantees returns.
a fee charged for late payments on a loan.
the total value of assets covered by an insurance policy.
Wearing a seat belt, not texting when driving, and driving carefully are all examples of...
safety precautions
risk management strategies
traffic regulations
driving techniques
Collision insurance is...
insurance that will pay to get your car fixed in the event of an accident.
insurance that covers theft of the vehicle.
insurance that pays for medical expenses after an accident.
insurance that provides coverage for natural disasters.
All of the following are true about health insurance except: If you don’t have health insurance, you pay all costs for healthcare and medical emergencies. Health insurance decreases your healthcare costs. Purchasing health care can help save you from medical bankruptcy.
Being young and healthy means you can skip out on health insurance.
Health insurance is always affordable for everyone.
Health insurance guarantees you will never have medical expenses.
Health insurance covers all types of healthcare services.
Which of the following is not an advantage of having health insurance? Health insurance lowers your risk of acquiring medical debt. People with health insurance can skip lines in emergency rooms. Health insurance protects you financially from medical emergencies. Health insurance allows some medical procedures to be covered by a low cost co-pay.
Health insurance lowers your risk of acquiring medical debt.
People with health insurance can skip lines in emergency rooms.
Health insurance protects you financially from medical emergencies.
Health insurance allows some medical procedures to be covered by a low cost co-pay.
Choose the statement that is true about health insurance: You do not need health insurance if you do not have a full time job. You don’t need health insurance if you are young and healthy. You don’t need health insurance if you are under age 26. You should always have health insurance, regardless of your circumstances.
You do not need health insurance if you do not have a full time job.
You don’t need health insurance if you are young and healthy.
You don’t need health insurance if you are under age 26.
You should always have health insurance, regardless of your circumstances.
What will collision insurance cover in the event of an accident?
Damage to your car
Medical expenses for injuries
Damage to another person's property
Towing costs after an accident
Which of the following is a reason someone should get health insurance?
Health insurance allows all medical procedures to be covered for free.
Most health insurance policies also cover non-medical procedures.
People with health insurance can get faster access to medical care at emergency rooms.
Health insurance protects you financially from medical emergencies.
What can insurance protect you from?
Theft
Contract fees
Financial loss
Both A and C
