~Finance: Insurance~

What is a deductible?

The amount you have to pay before the insurance company will make a payment.

Own occupation disability insurance will pay you if you . . .

can't do the job you were educated to do

The amount of money the insurance company agrees to pay for an incident is called ___________.

coverage

People who rely on you financially are called your _____________.

dependents

This type of home insurance covers the structure of your home.

dwelling insurance

If you're young and healthy, medical insurance is not as necessary.

false

You need long-term care insurance before you turn 60 years old.

false

A high-deductible health plan with lower monthly premiums is a good option for ___________.

young healthy people

Through the Affordable Care Act, you can stay on your parents' health insurance until . . .

26 years old

Medicare and Medicaid are examples of . . .

Government programs for public health insurance

If you're unable to live in your home while it's being repaired, _______ coverage will cover those additional living expenses.

Loss of use

Umbrella insurance is coverage for . . .

Things that fall outside of your home and auto insurance policies

Comprehensive coverage pays for loss or damage to your car caused by _____________.

anything other than a collision

Most insurance companies allow a _______, during which you can pay your premium before you lose your coverage.

grace period

Homeowner's insurance costs are ______ in states that are more susceptible to hurricanes, floods or tornadoes.

higher

______ will cover you if someone steals your personal information.

identity theft protection

The purpose of life insurance is to replace your ___________ when you die.

income

Your _______ has all the information you'd need in case of an accident.

insurance card

It's wise to have _______ because even if you're a great driver, there are plenty of people who aren't.

liability insurance

Insurance companies look at ____________ to determine the cost of your premium.

life expectancy charts, your weight, your age, your hobbies and whether you smoke

The cap on the total amount of benefits you can get from your insurance company is called ___________.

lifetime limit

_______ will provide money to replace lost income for years—even up to retirement.

long-term disability

Getting good grades, driving safely, and driving an older car are examples of ways you can. . .

lower your auto insurance costs

Life insurance guarantees your loved ones get a certain amount of money when you _________________.

pass away

In return for paying the insurance company a fee, they will . . .

pay for certain expenses or damages

What type of insurance pays for the treatment of injuries and losses to the driver and passengers?

personal injury protection

Disability insurance isn't intended to make you ____ but to ____ when you need it.

rich; pay your bills

Insurance helps you transfer the _________ from your bank account to the insurance company.

risk

Renter's insurance will cover you and your belongings if there is ever a fire, theft, or vandalism.

true

Don't get sucked into the __________ scam.

whole life insurance