Financial Literacy teens session 3

Monthly or One time lump sum fee that you pay to be insured.

• Payment

• Premium

• Fee

• Insurance fee

Portion of total expense that is first paid by the policyholder for the policy to take effect.

• Deposit fee

• Payable

• Deductible

• Deposit Insurance

The person or entity specifically identified as the named insured in an insurance policy. This person is also referred to as the named insured.

• Insurance holder

• Insurer

• Policyholder

• Claim holder

A person who receives compensation from general insurance and life insurance policy.

• Policyholder

• Claimant

• Beneficiary

• Insured

Time period in which you are insured.

• Claim period

• Policy period

• Time period

• Effective insurance period

Compensation covered by the insurance.

• Benefits

• Hand out

• Dividend

• Claim

What type of insurance pays a claim to the beneficiary or loved ones of the person who has passed away.

• Death benefit insurance

• Life insurance

• Insular insurance

• Death benefit

What type of insurance is applied to medical expenses

• Emergency care insurance

• Hospital insurance

• Health insurance

• Medical insurance

This is an insurance that is liable to protect the property you reside in and belongings in case of natural disasters

• Property insurance

• Shelter insurance

• Asset insurance

• Home insurance

A person that wants to grow their money and have some security for his family in case of his death are more likely to buy

• A Special type insurance

• Combination insurance

• Investing and life insurance

• Unit Link Insurance