Personal Finance Chapter 9

Which is NOT a recommended way of lowering your car insurance premiums?

Which of the following is NOT a benefit of having a will?

Why should life insurance NOT be used as an investment?

The time between the disabling event and beginning of payments in your disability coverage is:

Which of the following would not be a huge financial risk and not require insurance if you had a emergency fund of $500?

2 car accident that's your fault, the other driver is injured and your insurance covers these medical expenses of victim

Comprehensive coverage takes care of damage to your car that is not caused by a collision

You should not buy identity theft protection that only provides credit report monitoring

Which of the following is NOT a recommended way to save on your health insurance premium?

Covers property damage and medical bills if your at fault in car accident or if someone get hurt on your property

Which of the following policies would be a duplicate coverage for your health insurance policy?

Amount you must pay before you begin receiving any benefits from your insurance company

Short Answer: Explain the importance of liability protection

Cash value insurance is normally for life and is more expensive than term life insurance because it funds a savings plan

Any insurance with cash value or that combines insurance with investments is a bad idea

After high school, you should have the following types of insurance: auto, renter's, health, and long-term care

Explain why identity theft protection is more necessary now than ever before, especially for young adults

Paperwork filed with an insurance company in order to get them to cover a loss for someone they insure

Applies to amount of protection you have through an insurance company in the event of a loss

Life insurance policy for a specific period of time is:

An amount of money you pay to help cover a portion of your medical costs

A legally enforceable declaration of how a person wishes his or her property to be distributed after death

Amount of money you pay monthly, quarterly, semiannually, or annually to purchase different types of insurance

The recipient of assets passed on from the death of a friend or relative

Prepaid burial policies are a good idea

Which of the following types of insurance is NOT recommended for a young single adult?

The purpose of insurance is to:

Disability insurance offered through your employer is usually the most expensive coverage option

Policy describes the type of coverage in an insurance agreement

Which of the following is true?

Specific amount of money that you pay when insurance only covers a portion of costs

Disability insurance is not necessary if you have a good health insurance policy

Good identity theft protection includes restoration services

Renter's insurance is not necessary if you don't have a lot of expensive things

Duplicate coverage, or any extra insurance on top of your existing insurance, is not necessary

You should not buy long-term care insurance until age 30

Identify common types of risks and basic risk-management methods

Following the Five Foundations will help you to, one day, become self-insured