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6th grade personal finance

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Term
Definition
Automobile insurance   Limits financial loss due to damage or a car accident  
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Disability insurance   Pays part of your income if you become sick or hurt and cannot work  
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Health insurance   Also known as medical insurance  
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Homeowner’s insurance   Protects your investment against disasters like fire, tornadoes, and robbery  
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Liability insurance   Designed to protect you when someone claims to be hurt because of something you did or did not do  
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Life insurance   Designed to protect against income loss because of death (provides for others)  
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Long term care insurance   Designed to assist with cost of nursing homes or other similar facilities  
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Medicaid   Provided by the federal government for low-income citizens for coverage of healthcare-related expenses  
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Medicare   Provided by federal government for people ages 65+ or with certain health conditions  
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Renter’s insurance   Protects your personal property from theft or damage while living on someone else’s property  
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Automobile insurance   Pays for someone else’s property or injuries if you are at fault in an accident involving a vehicle  
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Health insurance   Protects you from expensive or unexpected healthcare-related expenses  
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Homeowner’s insurance   Provides coverage if someone is injured while visiting your home  
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Homeowner’s insurance   Protects personal property  
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Created by: rodhames
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