1. The Insurance Jeopardy!® Game
Terminology
& Concepts
Health &
Disability
Insurance
Life
Insurance
Property
& Liability
Insurance
Other/
Supplemental
Insurance
100
100
100
100
100
This is the dollar amount you pay towards your expenses before the insurance company pays their portion.
It is temporary insurance and has no savings component, so it costs less than other types of life insurance.
Low-income, blind and elderly persons can obtain health care through this state and federally funded program.
You use this type of account to pay for medical expenses with pre-tax dollars.
25/50/25
200
200
200
200
200
This type of automobile insurance covers your losses if you are hit by a hit-and-run driver.
This is the most liberal definition of disability found in disability income insurance contracts.
Doing this will cause the death benefit to be less than the original face value when purchased.
This is the percent of your expenses you pay after the deductible.
These two types of insurance only cover specific illnesses and accidents.
300
300
300
300
300
Long-term care insurance companies assess the need for long-term care by using these as benefit triggers.
A type of insurance that must be purchased if you don’t pay at least 20 percent down when purchasing a home.
Many insurance companies will not cover these until after a waiting period has expired.
When purchasing homeowner’s insurance to cover your home, this is uninsurable.
Lump sum, interest only and life annuity are examples.
400
400
400
400
400
This type of health insurance plan costs more but provides you with the greatest choices of doctors.
You add these to your standard homeowner’s policy to increase coverage on items that are inadequately covered.
This insurance pays the difference between your vehicle’s value and what you owe on the loan.
This policy provision puts a limit on the total amount you pay out of pocket for insured losses.
This feature allows you to exchange a term life insurance policy for one that has a cash value.
500
500
500
500
These two types of insurance are used to pay off your mortgage when you die and make your mortgage payment if you become disabled.
500
These two types of life insurance have a savings component and allow you to choose your own investments.
This policy provision prevents you from being reimbursed for more than 100 percent of insured losses.
These health care plans limit your choice of doctors. HMOs and PPOs are in this category.
These two types of automobile insurance are required by lenders.