
Insurance Terms: Lessons 1 & 2
Quiz
•
Business
•
9th - 12th Grade
•
Medium
Laura Chabarria
Used 13+ times
FREE Resource
16 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
an arrangement in which an individual will receive financial protection or reimbursement of losses from an insurer
Insurance
Policy
Coverage
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the contract between an insurance company and the insured individual
Insurance
Policy
Coverage
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the amount of liability protection offered to an individual through an insurance policy
Policy
Coverage
Premium
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the amount of time after the premium is due in which a policyholder can make a premium payment without suffering a lapse (break) in coverage
Grace Period
Deductible
Copays
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the amount of money you will pay out of pocket before the insurance company will make a payment
Deductible
Claim
Copays
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a formal request by a policyholder to their insurance company for compensation for a covered loss
Claim
Deductible
Out-of-Pocket Maximum
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the payments an individual makes each time they get medical service
Deductible
Copays
Out-of-Pocket Maximum
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