Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.

Remove ads
Don't know
Know
remaining cards
Save
0:01
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards




share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Insurance

TermDefinition
Automobile insurance Provides payments for both liability and property insurance on a vehicle
Beneficiary Someone who receives money if an insured person dies
Claim A formal request to an insurance company asking for a payment when the policyholder has an accident, illness or injury
Co‐insurance Requires the insured individual to pay a fixed percentage of the loss after the deductible has been paid
Coverage The risks covered and amount of money paid for losses under an insurance policy
Deductible The out‐of‐pocket money paid by the policyholder before an insurance company will cover the remaining costs attributed to the loss
Dependent Someone who relies on someone else for income and care
Disability insurance Provides payment to replace earnings during times when workers cannot work due to illness or injury
Emergency savings Cash set aside that can be used to cover the costs of unexpected expenses
Employee benefits Employers may offer employee benefits in the form of products or services that add extra value for employees beyond earned wages
Health insurance Provides money to pay for health care for illness, injury, or, in some cases, preventive care
Homeowners insurance Provides payment to cover liability losses as well as damage and loss of the home structure and its contents
Household production Doing something in the home without pay that takes raw materials along with a family member’s skill, experience, knowledge, and household equipment, to produce a useful product or service
In‐kind income The donation of a product or service in place of cash
Insurance A financial product (called an insurance contract or policy) purchased by many people facing a similar risk to protect against the risk of larger losses.
Liability insurance Provides payment to others if a member of the insured household accidently causes harm to other people or property
Life insurance Provides payment to beneficiaries who were named by the insured person
Long‐term care insurance Provides payment for extended nursing care due to accidents, illness, or old age
Moral hazard When the act of insuring an event increases the likelihood that the event will happen
Policy A contract between the insurance company and the insured that states the exact terms of the policy including what risks are covered and how much will be paid for any losses
Policyholder A person who owns the insurance policy
Premium The money paid to an insurance company to purchase a policy
Property insurance Provides payment to the insured person if his or her property is damaged or destroyed by an accident covered by the insurance policy.
Renters insurance Provides payment to renters to cover the damage and loss of property in a rental unit in addition to liability losses
Risk The chance of loss from an event that cannot be entirely controlled
Created by: LeShae Silver