Insurance

Flashcard
•
Social Studies
•
12th Grade
•
Easy
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10 questions
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1.
FLASHCARD QUESTION
Front
Which type of Insurance Policy costs more but provides a cash value which can be used by the policy owner?
Back
Whole Life
2.
FLASHCARD QUESTION
Front
Which Type of Insurance Policy is a death benefit only with no cash value?
Back
Term Insurance
3.
FLASHCARD QUESTION
Front
Why is it important to have insurance?
Back
To protect others from your mistakes, To protect your assets from claims by others, Guard against financial loss that can not be predicted.
4.
FLASHCARD QUESTION
Front
What is the name for the portion of a claim that you must pay before the insurance coverage kicks in?
Back
Deductible
5.
FLASHCARD QUESTION
Front
What is the name of the agreement that you have with an insurance company for coverage in exchange for payments?
Back
Policy
6.
FLASHCARD QUESTION
Front
What is another name for the payments which must be made to the insurance company in order to have coverage?
Back
Premium
7.
FLASHCARD QUESTION
Front
What is the name of an insurance product which covers your home and the contents inside?
Back
Homeowners Insurance
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