Insurance Coverage and Benefits Quiz

Covers damage to the insured's own vehicle in a car accident.

Provides coverage for a specified term; no cash value accumulation.

Whole life insurance accumulates cash value over the policy's duration, unlike term life insurance.

Provides coverage for damage to the structure of a home, including that caused by fire.

Damage caused by floods is not usually covered in standard renters insurance.

Legislation providing temporary continuation of health coverage after job loss or certain other events.

Damage caused by floods is not usually covered; separate flood insurance may be needed.

A type of health insurance plan with a network of healthcare providers; emphasizes preventive care.

The process of assessing and determining the risk level for insurance coverage.

The payment made to the insurance company for coverage.

The percentage of medical costs the insured must pay after meeting the deductible.

An additional provision or coverage that can be added to a standard insurance policy.

The initial amount the insured must pay before the insurance coverage kicks in.

A modification or addition to an insurance policy that changes its terms or coverage.

Percentage of premiums used to cover claims, indicating an insurer's profitability.

Cash value is the accumulated savings portion in a life insurance policy that earns interest over time.

Deductible is the amount the insured must pay before the insurance company covers the remaining expenses.

Covers expenses for damage caused by the insured to others' property.

Explicitly stated events or circumstances that are not covered by the insurance policy.

The value of the property considering depreciation at the time of the covered loss.

Insurance purchased by insurance companies to limit their risk exposure.

The maximum amount the insured has to pay for covered services in a given plan year.

Insurer's right to recover costs from a third party responsible for the loss.

Coverage for injuries caused by an uninsured or underinsured motorist.

Sharing and spreading the financial risk among a group of policyholders.