Insurance Vocabulary

3. The person who inherits your belongings from your will, trust, or life insurance.
6. The insurance company that sells the policy and agrees to pay for the covered losses.
8. the maximum amount the insurance company will pay for a claim
10. What's the most you'll have to pay in a year for medical expenses?
13. A legal document that says who gets your stuff when you die.
14. A legal arrangement where someone holds your property for the benefit of others.
15. the insurance company promises to help cover the costs of the unexpected event for a fee
17. is the exposure to danger, harm, or loss.
19. a fixed amount the insured must pay each time they receive a service that is covered by their insurance policy
21. That's you! The person who buys the insurance policy.
22. This takes into account , meaning it covers the cost of the item minus its decrease in value over time.

1. The person who helps you buy the insurance policy. They represent either the insurance company or work independently to find the best policy for you.
2. This protects you in case someone gets injured on your property, like if a guest slips and falls on your icy sidewalk
4. the amount the insured pays to the insurance company in order to have coverage
5. the amount the insured must pay out of pocket before the insurance company will pay for a claim
7. when you ask the insurance company to help pay for a covered loss, you're making a claim.
9. The person who makes sure your will is followed.
11. The person at the insurance company who decides how much risk they're willing to accept and how much to charge for the premium.
12. insurance helps replace your income if you can't work because of an injury or illness.
16. the amount of money the insurance company agrees to pay when you make a claim.
18. meaning that you can buy insurance to protect against the potential financial loss.
20. A court process that makes sure your will is followed and your debts are paid.