| A | B |
|---|
| Automobile Insurance | Provides payments for both liability and property insurance on a vehicle |
| Beneficiary | Someone who receives money if an insured person dies |
| Claim | A formal request to an insurance company asking for a payment when the policyholder has an accident, illness or injury |
| Co-Insurance | Requires the insured individual to pay a fixed percentage of the loss after the deductible has been paid |
| Coverage | The risks covered and amount of money paid for losses under an insurance policy |
| Deductible | The out‐of‐pocket money paid by the policyholder before an insurance company will cover the remaining costs attributed to the loss |
| Dependent | Someone who relies on someone else for income and care |
| Disability Insurance | Provides payment to replace earnings during times when workers cannot work due to illness or injury |
| Emergency Savings | Cash set aside that can be used to cover the costs of unexpected expenses |
| Employee Benefits | Employers may offer employee benefits in the form of products or services that add extra value for employees beyond earned wages |
| Health Insurance | Provides money to pay for health care for illness, injury, or, in some cases, preventive care |
| Homeowners Insurance | Provides payment to cover liability losses as well as damage and loss of the home structure and its contents |
| Household Production | Doing something in the home without pay that takes raw materials along with a family member’s skill, experience, knowledge, and household equipment, to produce a useful product or service |
