Personal Finance Key Terms Ch. 9
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| beneficiary | the recipient of assets passed on from the death of a friend or relative
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| claim | paperwork filed with an insurance company in order to get them to cover a loss for someone they insure
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| coverage | applies to the amount of protection you have through an insurance company in the event of a loss
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| deductible | amount you must pay before you begin receiving any benefits from your insurance company
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| liability | the state or quality of being obligated according to law or equity
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| out-of-pocket expense | specific amount of money that you pay when insurance only covers a portion of costs
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| policy | describes the type of coverage in an insurance agreement
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| premium | amount you pay monthly, quarterly, semiannually or annually to purchase different types of insurance
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| will | a legally enforceable declaration of how a person wishes his or her property to be distributed after death
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Created by:
Ms.Sala
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