Review Unit 6 Concept 3

Which kind of insurance should you have if you live in an apartment?

• Liability
• Renters
• Disability
• Whole Life

In certain high-risk areas, homeowners are required to have _________ insurance.

• Health
• Renters
• Flood
• Property/Homeowner's

Which type of life insurance provides coverage for a specified period of time?

• Whole Life
• Universal Life
• Term Life
• Disability

This payment is usually made up front or on the same day medical services are provided and is only a portion of the total cost of services.

• deductible
• copay
• coinsurance
• premium

The amount of money you pay out-of-pocket before your insurance starts paying is called a _____________.

• premium
• copay
• deductible
• benefit

The amount of money paid to an insurance company to obtain and keep an insurance policy in effect are called....

• premiums
• copays
• deductibles
• costs

Insurability is whether or not something or someone can (or should) be insured and to what degree.

• True
• False
• Maybe

You cannot buy more insurance than what you need.

• True
• False
• Maybe

*Identify the type of insurance you would buy to BEST protect yourself against the following situation: You pass away due to old age at 93.

• Whole Life
• Automobile
• Health
• Term Life
• Disability

*Identify the type of insurance you would buy to BEST protect yourself against the following situation: You get into a car accident and your car is totaled.

• Automobile
• Health
• Term Life
• Whole Life
• Disability