Terminology & Concepts Health & Disability Insurance Life Insurance Property & Liability Insurance Other/ Supplemental Insurance

back This is the dollar amount you pay towards your expenses before the insurance company pays their portion. What is the deductible? Terminology & Concepts - 100

back This is the percent of your expenses you pay after the deductible. What is coinsurance? Terminology & Concepts - 200

back The amount of a money your receive if you cancel a cash value insurance policy before the insured dies. What is cash surrender value? Terminology & Concepts - 300

back Government sponsered health plan for those 67 and older. What is Medicare Terminology & Concepts - 400

back A life insurance policy that provides death benefit coverage for a specific time period. What is Term Life Insurance? Terminology & Concepts - 500

back You can get discounts on your insurance rates by taking these types of measures. Preventive measures

back John gets all the insurance money if his wife Mary, dies. John is the ___________ Beneficiary Health & Disability - 200

back The money paid to survivors. What are proceeds Health & Disability - 300

back This type of health insurance plan costs more but provides you with the greatest choices of doctors. What is fee-for-service or indemnity plan? Health & Disability - 400

back These health care plans limit your choice of doctors. Health Maintenance Organizations (HMOs) and Preferred Provider Organizations (PPOs) are in this category. What are managed health care plans? Health & Disability - 500

back Because it is temporary insurance protection and has no savings component, it costs less than other types of life insurance. What is term life insurance? Life Insurance - 100

back Which Insurance whould cover losses from someone who breaks into your apartment and steals your laptop, television and $300 in cash? Renters Insurance? Life Insurance - 200

back When Jessie needs health care, she goes to her primary care physician who decides whether Jessie should see a specialist. Jessie has which type of health insurance? What is an HMO? Life Insurance - 300

back This type of life insurance is usually provided by a company for an employee but ends when the employee leaves the company What is term insurance? Life Insurance - 400

back These two types of life insurance have a savings component and allow you to choose your own investments. What is whole life or variable (univerasal life) Life Insurance - 500

back A home owner policy that covers fire, smoke, windstorm and riots is otherwise know as : 11 perils Property & Liability - 100

back Name 6 of the 11 named “perils” They include fire or lightning, loss of property from fire, windstorm or hail, explosion, riots, aircraft, vehicles, smoke, vandalism, theft and breakage of glass. All homeowner’s policies cover the eleven perils. Property & Liability - 200

back When purchasing homeowner’s insurance to cover your home, this is uninsurable. What is land? Property & Liability - 300

back You add these to your standard homeowner’s policy to increase coverage on items that are inadequately covered (such as jewerly or art). What is a rider? Property & Liability - 400

back The amount of money the beneficiary will receive upon the death of the insured What is proceeds or face value? Property & Liability - 500

back Low-income, blind or elderly persons can obtain health care through this program funded by the state and federal government. What is Medicaid? Other/Supplemental - 100

back Which policy should renters get to cover their property. What is HO-4? Other/Supplemental - 200

back Which insurance privides coverage for both an in-network and out of network doctors. What is a PPO? Other/Supplemental - 300

back Which policy has the lowest premium Group or Individual?. What is group insurance? Other/Supplemental - 300

back Give an advantage of having an HMO plan. What is Lower cost? Other/Supplemental - 500