Provides payments for both liability and property insurance on a vehicle.

Someone who receives insurance money if the insured person dies.

The paperwork describing the accident, illness or injury that is submitted to the insurance organization.

An amount of money, after the deductible, that is paid for jointly by the insured and the insurance company.

The risks covered and amount of money paid for losses under an insurance policy.

The amount paid out of pocket by the policyholder for the initial portion of a loss before the insurance coverage begins.

Someone who relies on someone else for money and care.

Provides payment to replace earnings during times when workers cannot work due to illness or injury.

Cash set aside that can be used to cover the costs of unexpected events.

Products or services provided by an employer that adds extra value for employees beyond wages paid.

Provides money to pay for health care for illness, injury, or, in some cases, preventive care.

Provides payment to cover liability losses as well as damage and loss of the home and its contents.

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.

The provision of a product or service rather than cash.

A product that transfers risk from an individual to an insurance company or organization.

Provides payment to others if a member of the insured household accidentally causes harm to other people or property.

Provides payment to beneficiaries if an insured person dies.

Long-term care Insurance

Provides payment for extended care due to accidents, illness, or old age.

When the act of insuring an event increases the likelihood that the event will happen.

An insurance contract that states what risks are covered and how much money will be paid for losses.

The money paid to an insurance company to purchase a policy.

Provides payment to the insured person if property is damaged or destroyed by an accident.

Provides payment to renters to cover the damage and loss of property in a rental unit in addition addition to liability losses.

The chance of loss from an event that cannot be entirely controlled.

Help

Options

focusNode

Didn't know it?
click below

Knew it?
click below

Don't Know

Remaining cards (0)

Know

retry

shuffle

restart

0:00

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

Fin Lit

Types of Insurance Vocab List

Question	Answer
Automobile Insurance	Provides payments for both liability and property insurance on a vehicle.
Beneficiary	Someone who receives insurance money if the insured person dies.
Claim	The paperwork describing the accident, illness or injury that is submitted to the insurance organization.
Co-insurance	An amount of money, after the deductible, that is paid for jointly by the insured and the insurance company.
Coverage	The risks covered and amount of money paid for losses under an insurance policy.
Deductible	The amount paid out of pocket by the policyholder for the initial portion of a loss before the insurance coverage begins.
Dependent	Someone who relies on someone else for money 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 events.
Employee Benefits	Products or services provided by an employer that adds extra value for employees beyond wages paid.
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 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 provision of a product or service rather than cash.
Insurance	A product that transfers risk from an individual to an insurance company or organization.
Liability Insurance	Provides payment to others if a member of the insured household accidentally causes harm to other people or property.
Life Insurance	Provides payment to beneficiaries if an insured person dies.
Long-term care Insurance	Provides payment for extended 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	An insurance contract that states what risks are covered and how much money will be paid for losses.
Policyholder	A person who owns the policy.
Premium	The money paid to an insurance company to purchase a policy.
Property Insurance	Provides payment to the insured person if property is damaged or destroyed by an accident.
Renters Insurance	Provides payment to renters to cover the damage and loss of property in a rental unit in addition addition to liability losses.
Risk	The chance of loss from an event that cannot be entirely controlled.

Created by: 11028835

Popular Finance sets

Economic Activites

Goals and Decisions

Basic of Taxes

Consumer rights and responsibilities

Career Choices

Lifestyles and Stages of Life

shopping options and practices

Savings And Investing

Researching Job/Career Options

Protecting Your Financial Security

Transportation Options

Consumer Information

"Know" box contains:
Time elapsed:
Retries: