200 100 Terminology & Concepts 500 300 400 200 100 Health & Disability Insurance 300 400 500 200 100...

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200 100 Terminology & Concepts 500 300 400 200 100 Health & Disability Insurance 300 400 500 200 100 Life Insurance 500 300 400 200 100 Property & Liability Insurance 300 400 500 200 100 Other/ Supplemental Insurance 300 400 500

Transcript of 200 100 Terminology & Concepts 500 300 400 200 100 Health & Disability Insurance 300 400 500 200 100...

Page 1: 200 100 Terminology & Concepts 500 300 400 200 100 Health & Disability Insurance 300 400 500 200 100 Life Insurance 500 300 400 200 100 Property & Liability.

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Property & Liability Insurance

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This is the dollar amount you pay towards your expenses before the

insurance company pays their portion.

What is the deductible?

Terminology & Concepts - 100

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This is the percent of your expenses you pay after the

deductible.

What is coinsurance?

Terminology & Concepts - 200

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The amount of a money your receive if you cancel a cash value

insurance policy before the insured dies.

What is cash surrender value?

Terminology & Concepts - 300

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Government sponsered health plan for those 67 and older.

What is Medicare

Terminology & Concepts - 400

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A life insurance policy that provides death benefit coverage for a specific

time period.

What is Term Life Insurance?

Terminology & Concepts - 500

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You can get discounts on your insurance rates by taking these

types of measures.

Preventive measures

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John gets all the insurance money if his wife Mary, dies. John is the

___________

Beneficiary

Health & Disability - 200

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The money paid to survivors.

What are proceeds

Health & Disability - 300

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This type of health insurance plan costs more but provides you with the greatest choices of doctors.

What is fee-for-service or indemnity plan?

Health & Disability - 400

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These health care plans limit your choice of doctors. Health

Maintenance Organizations (HMOs) and Preferred Provider Organizations

(PPOs) are in this category.

What are managed health care plans?

Health & Disability - 500

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Because it is temporary insurance protection and has no savings

component, it costs less than other types of life insurance.

What is term life insurance?

Life Insurance - 100

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Which Insurance whould cover losses from someone who breaks

into your apartment and steals your laptop, television and $300 in cash?

Renters Insurance?

Life Insurance - 200

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When Jessie needs health care, she goes to her primary care physician who decides whether

Jessie should see a specialist. Jessie has which type of health insurance?

What is an HMO?

Life Insurance - 300

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This type of life insurance is usually provided by a company for an employee but ends when the

employee leaves the company

What is term insurance?

Life Insurance - 400

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These two types of life insurance have a savings component and allow you to choose your own

investments.

What is whole life or variable (univerasal life)

Life Insurance - 500

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A home owner policy that covers fire, smoke, windstorm and riots

is otherwise know as :

11 perils

Property & Liability - 100

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Name 6 of the 11 named “perils”

They include fire or lightning, loss of property from fire, windstorm or hail, explosion, riots, aircraft, vehicles, smoke, vandalism, theft and breakage of glass. All homeowner’s policies cover the eleven perils.

Property & Liability - 200

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When purchasing homeowner’s insurance to cover your home,

this is uninsurable.

What is land?

Property & Liability - 300

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You add these to your standard homeowner’s policy to increase

coverage on items that are inadequately covered (such as jewerly

or art).

What is a rider?

Property & Liability - 400

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The amount of money the beneficiary will receive upon the

death of the insured

What is proceeds or face value?

Property & Liability - 500

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Low-income, blind or elderly persons can obtain health care through this program funded by the state and

federal government.

What is Medicaid?

Other/Supplemental - 100

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Which policy should renters get to cover their property.

What is HO-4?

Other/Supplemental - 200

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Which insurance privides coverage for both an in-network and out of network

doctors.

What is a PPO?

Other/Supplemental - 300

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Which policy has the lowest premium Group or Individual?.

What is group insurance?

Other/Supplemental - 300

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Give an advantage of having an HMO plan.

What is Lower cost?

Other/Supplemental - 500