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Insurance Vocabulary - Health, Life and Disability

Total questions: 18

Worksheet time: 9mins

Name
Class
Date
1.

A form of protection that eases the financial burden people may experience as a result of illness or injury is called _________.

a)

Health insurance

b)

Car insurance

c)

Home insurance

d)

Life insurance

2.

The percentage of the medical expenses the policy holder must pay in addition to the deductible amount is called _________.

a)

Coinsurance

b)

Premium

c)

Copayment

d)

Out-of-pocket maximum

3.

An insurance policy provision that requires the policyholder to pay all costs up to a certain amount, after which the insurance company pays 100% of the remaining expenses covered in the policy is called _________?

a)

Stop-loss

b)

Deductible

c)

Co-payment

d)

Premium

4.

A flat fee that you pay every time you receive a covered service is called _________.

a)

Co-payment

b)

Deductible

c)

Premium

d)

Coinsurance

5.

An insurance company that provides hospital care benefits is called _________.

a)

Blue Cross

b)

Blue Shield

c)

Aetna

d)

MetLife

6.

An insurance company that provides benefits for surgical and medical services performed by physicians is called _________.

a)

Blue Shield

b)

Medicare

c)

HMO

d)

Workers' Compensation

7.

Prepared health plans that provide comprehensive health care to their members are called _________.

a)

Managed care

b)

Fee-for-service plans

c)

Catastrophic health plans

d)

Indemnity insurance

8.

A health insurance plan that directly employs or contracts with selected, or preapproved, physicians and other medical professionals to provide health care services in exchange for a fixed, prepaid monthly premium is called _________?

a)

Health Maintenance Organization (HMO)

b)

Preferred Provider Organization (PPO)

c)

Point of Service (POS) Plan

d)

Exclusive Provider Organization (EPO)

9.

A group of doctors and hospitals that agree to provide specified medical services to members at prearranged fees is called _________.

a)

Preferred Provider Organization (PPO)

b)

Health Maintenance Organization (HMO)

c)

Exclusive Provider Organization (EPO)

d)

Point of Service Plan (POS)

10.

A health insurance plan that combines features of both HMOs and PPOs is called _________.

a)

Point-of-service (POS) plan

b)

Exclusive Provider Organization (EPO) plan

c)

High Deductible Health Plan (HDHP)

d)

Fee-for-Service (FFS) plan

11.

A federally funded health insurance program available mainly to people over 65 and to people with certain disabilities is called _________.

a)

Medicare

b)

Medicaid

c)

CHIP

d)

TRICARE

12.

A medical assistance program offered to certain low-income individuals and families is called _________.

a)

Medicaid

b)

Medicare

c)

CHIP

d)

Social Security

13.

Coverage that provides regular cash income when you are unable to work due to a pregnancy, non-work-related accident, or illness is called _________.

a)

Disability income insurance

b)

Life insurance

c)

Homeowners insurance

d)

Automobile insurance

14.

A person named to receive the benefits from an insurance policy is called a _________.

a)

Beneficiary

b)

Insurer

c)

Agent

d)

Underwriter

15.

Insurance that provides protection against loss of life for only a specified term, or period of time, also called temporary life insurance, is called _________.

a)

Term insurance

b)

Whole life insurance

c)

Endowment policy

d)

Universal life insurance

16.

A permanent policy for which you pay a specified premium each year for the rest of your life is called _________.

a)

Whole life insurance

b)

Term life insurance

c)

Universal life insurance

d)

Endowment policy

17.

In a whole life policy, the accumulated savings to which you are entitled when and if you cancel the policy is called _________.

a)

Cash value

b)

Premium

c)

Dividend

d)

Face amount

18.

Life insurance that provides coverage for a specific period of time and pays a sum of money to the policy holder if he or she is living at the end of the endowment period is called _________.

a)

Endowment

b)

Whole Life

c)

Term Life

d)

Universal Life