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Insurance - Financial Literacy Flashcards | StudBud
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Insurance - Financial Literacy
Insurance - Financial Literacy
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1
Which of the following would a company most likely NOT consider for an auto insurance eligibility factor?
The make/model of your car
Age of a car's driver
Driving history
The color of your car bumper
2
True or false: Certain types of insurance are required based on circumstance.
False
True
3
Which type of insurance provides coverage in the event of a death?
Home Insurance
Pet Insurance
Life Insurance
Health Insurance
4
What is the name of the regular payment made to insurance companies to keep a buyer's coverage active?
Deductible
Policyholder
Co-payment
Premium
5
What is a beneficiary?
The amount of money paid to the insurance company for coverage
The company that provides the insurance policy
The individual who receives the insurance payout when the policyholder dies
The person who sells life insurance policies
6
True or false: Lowering your premium lowers your deductible.
False
True
7
Which of the following would NOT typically be covered by health insurance?
Annual check-ups
Perscription medication
Cosmetic surgery
Emergency surgeries
8
What is a claim?
The monthly payment made for an insurance policy
A request made to an insurance company for payment after a covered event
The monthly payment made for an insurance policy
A fee charged by the insurance company for processing paperwork
9
True or false: A copayment is exactly the same thing as a deductible.
False
True
