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BUSN-1010 Conroy 19
Chapter 19
Question | Answer |
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Annuity | A contract in which an insurance company agrees to make regular payments to a person, either for a fixed period or until the person dies. |
Credit Score | The measure of a person's credit risk, which is calculated from a person's credit reports using a standardized formula. |
Health Insurance | Insurance that provides coverage for medical expenses due to sickness or injuries, as well as health maintenance and tests. |
Homeowners Insurance | Insurance that will cover the loss of not only any contents in the event of fire or theft, but also the structure itself. |
Net Worth | The difference between assets and liabilities. |
Renters Insurance | Insurance that will protect a renter against financial loss if the contents of the rented dwelling are damaged or destroyed by fire or theft. |
Social Security | The social welfare program that provides workers and their dependents with retirement income, disability payments, some unemployment insurance, and other benefits. |
Tax Deferred | In retirement planning, the concept of paying no current taxes on any gains, but the gains will be taxed as regular income when a withdrawal is made. |
Term Insurance | Offers a specified amount of coverage for a specified number of years, after which it expires and the policyholder has no more coverage. |
Traditional IRA | A tax-deferred individual retirement account for individuals and spouses, if they choose, that allows them to save for retirement and to deduct the amount of the contribution from their income taxes in the year in which the contribution was made. |
Zero Basing | Question Everything. |