| A | B |
|---|
| A formal request to an insurance company asking for a payment | Claim |
| the total amount and type of insurance carried | Coverage |
| A specified Amount of money that the insured must pay before an insurance company will pay a claim. | Deductible |
| A practice by which a company provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium | Insurance |
| An insurance policy is a legally binding contract between an insurance company and the person who buys the policy | Policy |
| The insurance company | Insurer |
| The state of being responsible for something | Liability |
| An amount to be paid for an insurance policy | Premium |
| The potential that a chosen action or activity will lead to a loss | Risk |
| covers injury or damage to the driver, passengers, or the vehicle caused by a driver with insufficient insurance | Uninsured Motorists Insurance |
| provides protection against financial losses resulting from injury, illness, and disability | Health Insurance |
| a contract between an insurer and policyholder specifying a sum to be paid to a beneficiary upon the insured’s death | Life Insurance |
| the recipient of any policy proceeds if the insured person dies | Beneficiary |
| a person who relies on someone else financially | Dependent |
| replaces a portion of one’s income if they become unable to work due to illness or injury | Disability Insurance |
| combines property and liability insurance into one policy to protect a home from damage costs due to perils | Homeowners Insurance |
| protects the insured from loss of the contents of the dwelling rather than the dwelling itself | Renter's Insurance |
| The person who buys an insurance policy | Policy Holder |
| What is the purpose of insurance? | The purpose of insurance is to help individuals limit their financial losses when an accident occurs |
| While driving, you hit a telephone pole and cause damage to the front of the car. What kind of insurance covers this? | Automobile Insurance |
| A daughter, who is financially responsible for her mother’s nursing home bills, dies from an undetected heart defect. What kind of insurance covers this? | Life Insurance |
| A doctor diagnoses a child with tonsillitis during a visit to a clinic. What type of insurance covers this? | Health Insurance |
| Your garage was destroyed by a fire which started by a lightning bolt hitting your home. What type of insurance covers this? | Homeowners Insurance |
| While driving to the mall, you are pulled over and receive a speeding ticket. What type of insurance covers this? | Nothing |
