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Fm M6L2 Vocab

Finance

QuestionAnswer
Health insurance financially protects the person from injury and illness.
Medicare/Medicaid Insurance provided by the state or federal government for individuals who are eligible due to age and/or income.
Life insurance provides money when the insured person dies
Beneficiary the person who identifies as being the person who will receive life insurance money when he/she dies.
Term Life Insurance provides protection for a specific period of time (like 5, 10, 15, 20, or 30 years) at an affordable cost
Whole Life Insurance Provides protection for your entire lifetime and accumulates a cash value that the policy owner can borrow against.
Disability insurance replaces a portion of the person’s income if they become unable to work due to illness or injury
Created by: mrichards102
 

 



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