Full coverage auto insurance includes these two parts.
Comprehensive and Collision
Auto insurance coverage for things like acts of God, hail damage, etc.
Comprehensive
A type of insurance that doctor's have or teacher's have in the event of lawsuits related to their job
Professional liability insurance
In order to purchase life insurance, you must provethat you have an ___ and would suffer financially should that death occur.
Insurable Interest (you would have less money coming in or would have to pay their funeral)
These can be added to an insurance plan (for homeowners) to provide extra coverage, such as for earthquakes or sewer backup.
Riders (or endorsements - supplemental insurance)
A doctor or hospital that has not contracted with your insurance company and may charge you more for care.
Out-of-network provider
A doctor or hospital that has contracted with your insurance company to provide care at a discounted rate.
In-network provider
In car insurance - what the last number stands for - 25/50/10 (amount and covers what)
$10,000 of property damage to the other car
The amount of money you must pay out of pocket before your insurance starts to cover the costs of your care (such as for a car accident or annually for healthcare).
Deductible
The process where an insurance company reviews your application to deny or offer life insurance coverage
Underwriting
Auto insurance coverage for accidents with other vehicles or objects.
Collision
The principle that one should not GAIN from an insurance claim - just become whole again.
Indemnity
The person to whom your life insurance is paid when you die.
Beneficiary
A percentage of the cost of your medical care that you pay after you have met your deductible.
Coinsurance
What does BIPD mean with regards to auto insurance?
Bodily Injury and Property Damage
A fixed fee you pay for each doctor's visit or prescription.
Copay
This type of insurance protects your house and its contents against losses due to fire and theft
homeowners
If the damage a driver does to others exceeds the amount of auto liability coverage they have, what can happen?
They get sued for the rest
To whom does "liability" insurance pay out to?
Not you - the person you harmed who has a claim against you
The maximum amount of money you will have to pay out of pocket for your care in a calendar year/plan year for health insurance.
Out-of-pocket maximum
The automobile insurance required under law to protect OTHERS from you in an accident is:
Liability insurance
With car insurance, how many times a year do you have to meet your deductible for insurance to pay?
Every time you are in an accident (with comp/coll claims)
With health insurance, how many times a year do you have to meet your deductible for insurance to pay?
Once - it's cumulative
Auto BIPD insurance - 25/50/10 - what does the middle number mean (amount and coverage)?
$50,000 bodily injury max per accident (regardless of number of people)
Reasons your life insurance rates might be high (or you may be denied)
Your age, health, pre-existing conditions, smoker, dangerous activities, weight
The monthly fee you pay to keep your insurance policy active.
Premium