Insurance Major Summative Review

The purpose of insurance is to diversify an investment portfolio

Being young and healthy means you can skip out on health insurance.

Health insurance lowers your risk of acquiring medical debt.

Insurance protects from losing a lot of money in the event damage is done to self or property

Collision insurance covers damage to your car.

The monthly cost of an insurance policy is the premium.

An example of a risk management strategy is...

Liability insurance does not cover injury to yourself.

Additional insurance purchased to cover an expensive item is called a personal property floater

Professional Liability Insurance is considered a type of property insurance?

Insurance that covers damage to your car from an accident is called...

Automobile Insurance that will pay for injury to another driver and/or damage to their car if you are in an accident cal

The insurance money Mr. Smith received when his wife died is called the DEATH BENEFIT

People with health insurance can skip lines in emergency rooms.

The amount the policy holder must pay before insurance will pay any bills is called

If you get into a car accident, your taxes may increase.

A HMO requires you to see your primary care physician before seeing a specialist.

Automobile liability insurance is required by the state in order to drive your car.

The insurance money Mr. Smith received when his wife died is called the CASH VALUE

Health insurance protects you financially from medical emergencies.