Chapter 20 Insurance - Principles of Business

The special form of homeowners insurance is sometimes referred to as a(n)

The need for life insurance normally declines as children become independent and other savings and investments grow.

To have an insurable interest in the life of another person, you must

Which of the following would not be considered personal property?

A(n) _________________ is a cause of loss to property, such as fire, wind, or theft.

Allie has auto insurance w/ 100/300 bodily liability coverage. How much will insurance co pay for injuries to 1 person?

The most common form of home and property insurance policy sold today is a(n) _________________ policy.

A dependent is

________coverage protects the insured against almost all damage losses except those caused from a collision or rollover.

Property permanently attached to land, such as a house or garage, is called real property.

Amy’s 10-yr-old couch was destroyed in a fire. Her insurance co paid her the cost of buying a new couch. Amy had

Monthly payments under disability insurance are usually about ____________________ % of the insured’s normal income.

A national program of health insurance called ________ is designed to help people aged 65 and older pay for health care.

A(n) ______________ medical policy combines the features of hospital, surgical, regular, and major medical insurance.

Assuming the same amount of coverage and deductibles, which driver is likely to pay the LEAST for auto insurance?

A renters policy does not protect the actual dwelling; it covers only property and personal liability risks.

It is illegal for an insurance company to charge one individual higher premiums than another individual is charged.

__ liability coverage protects u against claims from injuries to people/damage to property caused by u, your family/pets

Insurance that protects a car owner against financial loss resulting from a wreck or rollover is called

_________________ insurance protects survivors against financial loss associated with the death of the insured.

Injuries caused by hit-n-run drivers or drivers without insurance are protected with_________________motorist coverage.

Insurance co's pay the replacement value only if it is insured for at least 80 percent of the replacement value

Policyholders & family are covered if injured while riding in their car or another car through _____ payments coverage

The common characteristics of _________________ life insurance are that it has cash value and an investment feature.

Bodily injury liability auto insurance covers all of the following EXCEPT

Uninsured motorist protection covers the insured person only if the uninsured motorist is at fault.

All states have some type of financial responsibility law to protect the public from financial loss caused by drivers.

Which of the following perils is covered by the basic form of a homeowners policy?

A managed health care plan involving several health care providers who contract with an ins. co to service its members

_________________ is the sharing of expenses by the policyholder and the insurance company.

The amount you must pay before an insurance company will pay a claim is called the _________________ .

The longer you keep your permanent life insurance policy, the lower its cash value will be.

With an assigned-risk plan,

The decrease in the value of property due to age and other factors is called _________________

Everyone is eligible for some type of group health insurance.

Automobile insurance is very inexpensive, so you should always buy as much coverage as possible.

This type of health insurance provides protection against the high costs of serious illnesses or injuries

The most important feature of universal life insurance is that

The most important factor that influences homeowners insurance premiums is

Which of the following is NOT a type of permanent life insurance?

Which of the following does NOT need to be recorded on an inventory of personal property?

The medical insurance portion of Medicare is often called

Which of the following types of life insurance does NOT have a cash value?

Under___insurance, people hurt in an auto wreck collect their $ losses from their insurance co no matter who caused it