Financial Literacy - Insurance

Money paid to an insurance company to purchase a policy

Products or services provided by an employer that adds extra value for employees wages paid

What insurance is required by law

A person who owns s policy

Provides payments for both liability and property insurance on a vehicle

The paperwork describing the accident, illness or injury that is submitted to the insurance org

The risks covered and amount of money paid for losses under an insurance policy

You  fall and break your arm, what insurance covers this

Amount of money after the deductible that is paid for jointly by the insured & insurance compan

The chance of loss from an event that cannot be entirely controlled

Provides payment to cover liability losses as well as damage and loss of the home and contents

Provides payment to the insured person if property is damaged by an accident

Products or services provided by an employer that adds extra value for employees wages paid 

Provides payment to beneficiaries if an insured person dies

Provides payments for extended care due to accidents, illness or old age

Cash set aside that can be used to cover the costs of unexpected events

When should a person have life insurance

Provides payment to replace earnings when workers cannot work due to illness or injury

A factor that influences automobile insurance rates would include your

You get hurt and cannot work, what insurance covers this

Someone who receives insurance money if the insured person dies

Amt paid out of pocket by the policyholder for the initial portion of a loss before coverage 

You die and your family receives money

An insurance contract that states what risks are covered & how much money will be paid for loss

Provides payment to renters to cover the damage and loss of property in a rental unit 

Someone who relies on someone else for money and care

Someone falls and breaks an arm on your front porch

What type of coverage is available for automobile insurance