| A | B |
|---|
| 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 |
| Deductible | The out‐of‐pocket money paid by the policyholder before an insurance company will cover the remaining costs attributed to the loss |
| Policy | A contract between the insurance company and the insured that states the exact terms of the policy including what risks are covered and how much will be paid for any losses |
| Premium | The money paid to an insurance company to purchase a policy |
| Risk | The chance of loss from an event that cannot be entirely controlled |
| EXTRA 1 | EXTRA 1 |
| EXTRA 2 | EXTRA 2 |
