Buying Insurance

Question 1

claimcontractpayoutpremium

Revolt · Accepted Answer

claim

Question 2

What is one benefit of submitting a claim to an insurance company?

Revolt · Accepted Answer

It helps to cover any expenses for a loss.

Question 3

Which statement best defines the term premium?

Revolt · Accepted Answer

It is a fee paid to an insurance company to purchase coverage.

Question 4

compensationdeductiblesliabilitypremiums

Revolt · Accepted Answer

liability

Question 5

Which statement best defines the term deductible?

Revolt · Accepted Answer

It is the amount a consumer pays before the insurance will start paying.

Question 6

If a driver with an insurance policy drives infrequently, it can

Revolt · Accepted Answer

lower costs.

Question 7

Which statement best describes life insurance?

Revolt · Accepted Answer

It provides benefits to loved ones after someone’s death.

Question 8

Which statement best defines the term copayment?

Revolt · Accepted Answer

It is money paid by a consumer to share the cost of a payout.

Question 9

Which statement best describes disability insurance?

Revolt · Accepted Answer

It replaces lost income and covers medical expenses.

Question 10

Health insuranceDisability insuranceCasualty insuranceWorker’s compensation

Revolt · Accepted Answer

Health insurance

Buying Insurance Answers