Insurance

How can you obtain health insurance?

• From an insurance agent or through the Health Insurance Marketplace

• Through your bank or credit union

• Signing up at your family doctor's office

• Remaining on your parents' plan if you are under age 30

Your health insurance copay is

• Amount paid out of pocket before your insurance coverage

• Paid by the insurer

• Applied on an annual basis

• A fixed amount of money you pay each time you use your plan

Under current law, until what age can a child stay on their parents' health insurance?

• 18

• 21

• 26

• 29

A policy is a contract between the

• Policyholder and the injured person

• Driver and the government

• Consumer and the insurance company

• Consumer and the insurance agent

What information is typically listed on an insurance policy?

• Your credit score

• Actual Cash Value of the property being insured

• A list of your outstanding debts

• The policy period

The FDIC insured deposit limit is

• $150,000

• $200,000

• $250,000

• $300,000

This professional analyzes statistics and uses them to calculate risks and premiums.

• Agent

• Actuary

• Claims Clerk

• Underwriter

The out of pocket cost to the insured when a loss occurs is called...

• Premium

• Deductible

What role does insurance play in financial planning?

• It guarantees that income and assets are protected

• It helps build and maintain one's credit score

• It helps cover day-to-day expenses

• It grows in value and appreciates over time

Each of the following is TRUE about Social Security EXCEPT...

• It replaces the need for health and life insurance

• It replaces part of your income when you retire

• It replaces part of your income if you become disabled

• It replaces part of your income if you die leaving survivors