Unit 15 Insurance Basics Module 156 Terms Question Preview (ID: 27630)


Unit 15 Insurance Basics Module 156 Terms. TEACHERS: click here for quick copy question ID numbers.

requests by policyholders for the insurer to pay for a loss
a) premiums
b) claims
c) Coverage
d) Policies

helps survivors pay expenses after a person has died
a) Life Insurance
b) Health Insurance
c) Liability Insurance
d) Insurance

insurance policies cover regular trips to the doctor and emergency room visits. Many policies also cover surgical procedures, medications, recovery, home care, and so on.
a) Liability Insurance
b) Health Insurance
c) Life Insurance
d) Property

is the amount of protection the insurer will provide. Different kinds of insurance provide different kinds of coverage.
a) Policies
b) Coverage
c) claims
d) Insurance

helps protect against lawsuits , refers to your legal responsibility for others' safety. If someone gets hurt while on your property or while in your care, you might be liable.
a) Property Insurance
b) Liability Insurance
c) Health Insurance
d) Life Insurance

is a strategy for protecting against risk of loss.
a) Risk management
b) Life Insurance
c) Insurance
d) Coverage

are carefully worded and highly detailed legal contracts that outline the terms of the insurance coverage
a) Policies
b) premiums
c) claims
d) Coverage

Insurance works because lots of people think it is a good idea to insure their assets
a) Risk management
b) Deductiable
c) peace of mind
d) against risk of loss

is the amount of money you pay before the insurer will pay a claim.
a) Coverage
b) deductible
c) Insurance
d) Policies

a specified amount of money that the insured/ you must pay before an insurance company will pay a claim.. It's what you pay first
a) premiums
b) Coverage
c) Deductible
d) FDIC

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