
Insurance Basics Flashcard
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
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21 questions
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1.
FLASHCARD QUESTION
Front
How do insurance companies make payments more affordable for the insured?
Back
By pooling clients' risks
2.
FLASHCARD QUESTION
Front
What is a premium in the context of insurance?
Back
A payment made to an insurance company
3.
FLASHCARD QUESTION
Front
What does an insurance policy protect against?
Back
The risk of financial loss
4.
FLASHCARD QUESTION
Front
Which strategy involves acknowledging that people will get sick or accidents will happen?
Back
Acceptance
5.
FLASHCARD QUESTION
Front
How are different insurance needs determined?
Back
They are tied to each person's unique situation
6.
FLASHCARD QUESTION
Front
What is a premium in the context of insurance?
Back
The amount you pay for your insurance policy, usually monthly.
7.
FLASHCARD QUESTION
Front
What is the relationship between premiums and deductibles?
Back
Higher premiums result in lower deductibles.
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