Consumer Education
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each of the black spaces below before clicking
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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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Created by:
Brightonvball