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Insurance Types

Total questions: 25

Worksheet time: 25mins

Name
Class
Date
1.
The contract between an insurance company and the insured individual
a)
copay
b)
dependent
c)
claim
d)
policy
2.
The amount of liability protection offered to an individual through an insurance policy
a)
claim
b)
premium
c)
coverage
d)
deductible
3.
The amount of money paid for an insurance policy
a)
deductible
b)
coverage
c)
premium
d)
out-of-pocket maximum
4.
The amount of money you'll have to pay out of pocket before the insurance company will make a payment.
a)
deductible
b)
premium
c)
claim
d)
out-of-pocket maximum
5.
The payments an individual makes each time they get medical service.
a)
premium
b)
copay
c)
grace period
d)
deductible
6.
This type of coverage gives protection for damage to your car resulting from a collision.
a)
comprehensive coverage
b)
collision coverage
c)
uninsured/underinsured motorist
d)
personal injury protection
7.
This type of coverage gives protection for damage to your car caused by something other than a collision.
a)
comprehensive coverage
b)
collision coverage
c)
uninsured/underinsured motorist
d)
personal injury protection
8.
Homeowners insurance costs are __________ in states that are more susceptible to things like hurricanes and floods
a)
lower
b)
higher
c)
the same
9.
Coverage for an individual's or family's medical expenses
a)
Life Insurance
b)
Health Insurance
c)
Disability Insurance
d)
Long-Term Care Insurance
10.
Through the Affordable Care Act, you can stay on your parents' health insurance until you turn _______ years old.
a)
26
b)
18
c)
21
d)
25
11.
Guarantees your loved ones get a certain amount of money when you pass away.
a)
Life Insurance
b)
Health Insurance
c)
Disability Insurance
d)
Long-Term Care Insurance
12.

Protects from legal liability of property damage or injury

a)

dwelling coverage

b)

liability coverage

c)

personal property coverage

d)

loss of use coverage

13.

Covers additional living expenses

a)

dwelling coverage

b)

liability coverage

c)

personal property coverage

d)

loss of use coverage

14.

Covers the structure of your home

a)

dwelling coverage

b)

liability coverage

c)

personal property coverage

d)

loss of use coverage

15.

Covers your personal belongings

a)

dwelling coverage

b)

liability coverage

c)

personal property coverage

d)

loss of use coverage

16.

Why do you need car insurance?

a)

It's required by law in most states

b)

because Mrs. Rowe said so

c)

Even if you're a perfect driver, you never know when an accident might happen

d)

You don't, it's a scam

17.

This is optional extended liability coverage that can be added to auto or homeowners policies

a)

Renters insurance

b)

Umbrella Insurance

c)

Liability Insurance

d)

Comprehensive Coverage

18.

People who rely on you financially

a)

Family

b)

Beneficiaries

c)

Dependents

d)

Death benefits

19.

Who needs life insurance?

a)

people who are married

b)

people who have kids/dependents

c)

students

d)

kids

20.

Life insurance for a specified amount of time (often 20, 25, or 30 years)

a)

Whole Life Insurance

b)

Term Life Insurance

c)

Short Term Life Insurance

d)

Necessary Insurance

21.

Life insurance that lasts your entire lifetime

a)

Whole Life Insurance

b)

Term Life Insurance

c)

Short Term Life Insurance

d)

Necessary Insurance

22.
  • Replaces a portion of your income if you become disabled

    • (Short-term and Long-term)

a)

Long-Term Care Insurance

b)

Disability Insurance

c)

Liability Insurance

d)

Term Life Insurance

23.
  • Protects you if someone steals your personal information

a)

Long-Term Care Insurance

b)

Disability Insurance

c)

Liability Insurance

d)

Identity Theft Protection

24.
  • Covers costs of nursing home care, assisted living, and other end-of-life care

a)

Long-Term Care Insurance

b)

Disability Insurance

c)

Liability Insurance

d)

Identity Theft Protection

25.

If you’re young and healthy, medical insurance is not necessary.

a)
True
b)
False