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Consumer Education

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
What you buy to protect yourself from financial loss due to illness, injury or damage   show
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show premium  
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When you buy insurance you buy this   show
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show policy  
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After you buy a policy you then become the   show
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show claim  
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Insurance protects you against something of what?   show
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show insurable interest ( ex. You can insure your own car but not your brothers)  
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An experts determine the value of a piece of property   show
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show property insurance  
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show liability insurance  
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show personal insurance  
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Coverage for you when you are legally responsible for injuring other people in an automobile accident(usually show in two numbers 250,000/500,000 first is max for one person and second is maximum total)   show
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Pays for the damage you cause to another person’s property-this is not your car(250,000/500,000/50,000 the last number is what company will pay up to in the damage you cause to others property   show
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show medical payment coverage  
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Pays medical and damage expenses for you and your passengers cuased by a driver without insurance or with too little insurance to cover the loss   show
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Pays for damage to your car caused by something other than a collision(fire, earthquake, wind, hail, floods, vandalism, theft)(has deductibles)   show
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Pays for damage to your car caused by colliding with another car or object(has deductibles)   show
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Amount you pay before the insurance company pays anything   show
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Factors that affect your premium   show
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show homeowners insurance  
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Covers damage to or loss of your house and content( garage, sheds, furniture, appliance, curtains, clothes)   show
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show exclusions  
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Provides the same property and liability coverage as a homeowner policy but does not cover structure itself ( owner/landlord is responsible for theses losses)   show
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Factors affecting the cost of homeowners insurance   show
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show new drugs, medical equipment, treatment procedures, advances in medical technology  
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Lawsuits against health car providers is _____ to the cost of health care   show
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show 1 million  
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show malpractice insurance  
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What does basis coverage in hospital covers   show
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surgery covers   show
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show some portions of doctors fees for nonsurgical care in office, hospital and your home  
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show x-rays, lab test  
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show a share of the enormous cost resulting from a serious illness or accident, extended hospital care, physical therapy, multiple operations  
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coverage for part or all of prescription pending on pan(excludes depression drugs, contraceptive, diet and experimental drugs)   show
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medication that have the same composition as their name brand but less expensive   show
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dental care covers/includes   show
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vision care covers   show
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What insurance does not cover   show
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show catastrophic and specified-disease insurance  
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Cover cost of someone taking care for you, pa a set amount per day for person that is caring for you   show
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Replace lost income when you cannot work due to illness, pas about 60% of income @ the time you purchased that policy   show
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Fee for service plans covers   show
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Pay for health service as you need them( must pay a deductible)   show
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show $100-500  
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Prepaid plans, you pay healthcare coverage in advance instead of paying for services as you use them(insurance company controls cost of healthcare by negotiating fees with providers who want to participate in plan)   show
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show copayments  
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show HMO, PPO, POS  
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show Health maintenance organization(HMO)  
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Managed car plan most like a fee-for service, provides offer care to reduced price, no required doc/hospital, if go out of plan(pay certain %, pay difference between do charg/plan will pay)   show
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show Point of Service Plan(POS)  
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Most individual get health insurance through their employers, companies pay the premium(sometimes)   show
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show premium  
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show open enrolment, part time employees are not usually covered by health insurance  
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show Consolidated omnibus budget reconciliation act(Cobra)  
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show Pre-existing condition  
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You new insurance plan must cover any pre-existing conditions without a waiting period if you have been insured continuously the previous 12 months, (july 1, 1997)   show
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Individual health insurance does what?   show
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show medicare  
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show Medicaid  
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show Medicaid  
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injured workers who receive 2/3 of their salary while they are disabled from something that happened to them on job( if death, family will receive compensation)   show
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show referral  
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Protect you and your family financially in the event that a family member dies   show
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When purchasing life insurance, you specify who will receive the payment, that person is the beneficiary, you can have more than one, usually spouse/children   show
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show term life insurance.  
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show level term life insurance  
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show Renewable term life insurance  
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At any time during the term, you can choose to convert the policy into a permanent policy   show
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Provide a death benefit plus a savings plan and the coverage lasts throughout the policy holders life   show
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Things to consider when buying life insurances   show
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The permanent life insurance is   show
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