Financial Literacy - Insurance

The amount paid our of pocket by the policy holder for the initial portion of a loss 

Uncertainty about a situation's outcome

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

Paperwork describing the accident, illness or injury that is submitted to the insurance company

Fee paid to the insurer to be covered under the specified terms

An agreement between an individual and insurance company to protect against risk

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

Covers injuries sustained by the driver of the insured vehicle or passenger regardless of fault

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

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

Insurance contract that states what risks are covered & how much money will be paid for losses

Covers injury/damage to the driver passengers/vehicle caused by driver with insufficient insura

An amount of money after the deductible that is paid jointly by you and the insurance company

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

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

Covers the insured if injuries or damages are caused to others or their property

Provides payment to beneficiaries if an insured person dies

The consumer who purchased the policy

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

Provides money to pay for health care for illness, injury or in some cases preventive care

Someone who receives the insurance money if the insured dies

Someone who relies on someone else financially

An arrangement between an individual and an insurer to protect against risk from auto accidents

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