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Insurance Vocabulary

Total questions: 19

Worksheet time: 10mins

Name
Class
Date
1.

Fill in the blank: The amount paid for an insurance policy, usually on a monthly or annual basis, is called _________.

a)

Premium

b)

Deductible

c)

Coverage

d)

Claim

2.

Fill in the blank: The amount of money that the insured must pay out-of-pocket before the insurance company begins to pay for covered expenses is called _________.

a)

Deductible

b)

Premium

c)

Copayment

d)

Coverage Limit

3.

Fill in the blank: The extent of protection provided by an insurance policy, including the specific risks or events that are insured, is called _________.

a)

Coverage

b)

Deductible

c)

Premium

d)

Exclusion

4.

Fill in the blank: Legal responsibility for the financial costs of damages or injuries caused to another person or their property is called _________.

a)

Liability

b)

Asset

c)

Premium

d)

Deductible

5.

Fill in the blank: Insurance through an employer that helps to pay SOME medical bills is called _________.

a)

Health Insurance

b)

Life Insurance

c)

Auto Insurance

d)

Home Insurance

6.

Fill in the blank: Insurance through an employer that helps to pay SOME dental bills is called _________

a)

Dental Insurance

b)

Health Insurance

c)

Life Insurance

d)

Vision Insurance

7.

Fill in the blank: Insurance through an insurance agency to cover catastrophic events to a house (fire, flood, tornado, etc) is called _________.

a)

Homeowners Insurance

b)

Auto Insurance

c)

Life Insurance

d)

Health Insurance

8.

Fill in the blank: Insurance through an insurance agency to help replace items in your rental space if a catastrophic event happens is called _________.

a)

Renters Insurance

b)

Homeowners Insurance

c)

Auto Insurance

d)

Life Insurance

9.

Fill in the blank: Insurance through an insurance agency that helps to cover damage due to an accident is called _________.

a)

Collision Car Insurance

b)

Comprehensive Health Insurance

c)

Homeowners Insurance

d)

Life Insurance

10.

Fill in the blank: Insurance through an insurance agency that helps to cover events other than collision (Theft, Natural event, Hit an animal, Tree Fall, etc.) is called _________

a)

Comprehensive Car Insurance

b)

Collision Car Insurance

c)

Liability Car Insurance

d)

Personal Injury Protection

11.

Fill in the blank: The type of auto insurance that covers the difference between a car's actual cash value and the remaining balance on your loan or lease if the car is totaled or stolen is called _________.

a)

Gap Insurance

b)

Comprehensive Insurance

c)

Liability Insurance

d)

Collision Insurance

12.

Fill in the blank: Specific conditions or circumstances that are not covered by an insurance policy are called _________.

a)

Exclusion

b)

Premium

c)

Deductible

d)

Coverage

13.

Fill in the blank: A person or entity designated to receive benefits or payments from an insurance policy upon the occurrence of a specified event is called _________.

a)

Beneficiary

b)

Insurer

c)

Agent

d)

Policyholder

14.

Fill in the blank: A request made by the insured to the insurance company for payment based on losses covered by the policy is called a _________.

a)

Claim

b)

Premium

c)

Deductible

d)

Policy

15.

Fill in the blank: A fixed amount that the insured must pay for a specific service, with the insurance covering the rest, is called _________?

a)

Co-payment

b)

Deductible

c)

Premium

d)

Out-of-pocket maximum

16.

Fill in the blank: The individual or entity that owns an insurance policy and is entitled to its benefits is called a _________

a)

Policyholder

b)

Dependents

c)

Agent

17.

Fill in the blank: The individuals who are covered by the policyholder's insurance are called _________.

a)

Dependents

b)

Policyholder

c)

Agent

18.

Higher deductible = Higher monthly premium

a)
True
b)
False
19.

Lower deductible = Higher monthly premium

a)
True
b)
False