Consumer Unit 6 Mayer

Front

What role does insurance play in financial planning?

Back

It guarantees that income and assets are protected

Front

The out of pocket cost to the insured when a loss occurs is called...

Back

Deductible

Front

A stone hits your windshield. Which type of coverage would likely cover this expense?

Back

Comprehensive

Front

Jennifer has an auto policy of $20,000/$40,000/$10,000. The $10,000 covers

Back

Property damage per occurrence

Front

A policy is a contract between the

Back

Consumer and the insurance company

Front

Under current law, until what age can a child stay on their parents' health insurance?

Back

26

Front

Your health insurance copay is

Back

A fixed amount of money you pay each time you use your plan

Front

How can you NOT obtain health insurance? Options: Signing up with the insurance program through your employer, Shopping on the Health Insurance Marketplace, Signing up at your family doctor's office, Remaining on your parents' plan if you are under age 26

Back

Signing up at your family doctor's office

Front

True or False: Insurance is based on the concept of shared risk, or risk pooling.

Back

True

Front

Who would likely pay the highest premium on car insurance? Options: 34 year old male, 18 year old female, 18 year old male, 34 year old female

Back

18 year old male