Econ Insurance test

The chance of loss from an event that cannot be entirely controlled

• Opportunity
• Benefit
• Advantage
• Risk

The request to an insurance company for a payment when a policyholder has an accident, illness or injury

• premium
• deductible
• coverage
• Policy

The out-of-pocket money paid before  insurance will cover the remaining costs attributed to the loss

• excess
• premium
• deductible

• co'payment

The out-of-pocket money paid before  insurance will cover the remaining costs attributed to the loss

• coverage limit
• premium
• co-payment
• claim

The risk covered and amount of money paid for losses under an insurance policy

• Insurance premium and deductible
• coverage

• Policy limits and coverage period
• Claim process and payout timeline

The part of the total bill that you will be responsible for after your initial payment.

• Initial payment
• co-insurance

• Total amount
• Deposit required

Insurance to replace earnings during times when workers cannot work due to illness or injury

• Health insurance
• Life insurance
• Unemployment insurance
• Disability insurance

Insurance for extended nursing care when a person cannot live independently (but doesn’t need to be hospitalized)

• Health insurance
• Disability insurance
• Critical illness insurance
• Long-term care insurance

Results in payment to insured person if his/her property is damaged or destroyed by an accident

• Insurance coverage for health issues
• Compensation for lost wages due to injury
• Property damage insurance

• Reimbursement for stolen items unrelated to accidents

Results in payment to others if the insured accidently causes harm to other people or property

• liability insurance

• Health insurance
• Property insurance

• Travel insurance