Personal Finance Vocab. Ch. 10-12

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Across
  1. 3. State legislation that requires drivers to prove their ability to cover the cost of damage in an automobile accident.
  2. 5. Combination of hospital expense insurance, surgical expense insurance, and physician expense insurance.
  3. 7. You receive the full cost of repairing or replacing a damaged or lost item.
  4. 9. A provision under which an insured pays a certain amount, after which the insurance company pays 100 percent of the remaining covered expenses.
  5. 11. An independent membership corporation that provides protection against the cost of surgical and medical care.
  6. 15. A benefit under which the company pays twice the face value of the policy if the insured’s death results from an accident.
  7. 19. Coverage for your place of residence and its associated financial risks.
  8. 20. A payment you receive that is based on the current replacement cost of a damaged or lost item less depreciation.
  9. 22. A network of selected contracted, participating providers; also called an HMO-PPO hybrid or open-ended HMO.
  10. 24. The homeowner would have to pay for a portion of the cost to replace their home.
  11. 25. A method of integrating the benefits payable under more than one health insurance plan.
  12. 28. Protection against possible financial loss.
  13. 29. A risk that carries a chance of either loss or gain.
  14. 31. The amount received after giving up a life insurance policy.
  15. 33. Possible losses due to negligence resulting in bodily injury or property damage to others.
  16. 35. A contract that provides a regular income, typically for as long as the person lives.
  17. 36. An organized strategy for protecting assets and people.
  18. 39. Failure to take ordinary or reasonable care.
  19. 40. A provision that allows the insured not to forfeit all accrued benefits.
  20. 42. A provision under which the insured pays a flat dollar amount each time a covered medical service is received after the deductible has been met.
  21. 44. A list or other documentation of personal belongings.
  22. 46. A type of major medical insurance that has a very low deductible and is offered without a separate basic plan.
  23. 49. Supplements Medicare by filling the gap between Medicare payments and medical costs not covered by Medicare.
  24. 50. Pays the cost of minor accidental injuries on your property or minor injuries caused by you.
  25. 52. A fee to be paid to an insurance company.
  26. 53. The name for personal, property, or liability risks.
  27. 56. Legal responsibility for the financial cost of another person's losses or injuries.
  28. 57. Which covers the damage or loss of a specific item of high value.
  29. 58. When a person is held responsible for the actions of another person.
  30. 59. Pays stipulated daily, weekly, or monthly cash benefits during hospital confinement.
  31. 60. Addition of coverage.
Down
  1. 1. A health insurance plan that provides a wide range of health care services for a fixed, prepaid monthly premium.
  2. 2. Increases the likelihood of loss through some peril.
  3. 4. The uncertainties surrounding loss of income or life due to death, illness, or unemployment.
  4. 6. Pays part or all of hospital bills for room, board, and other charges.
  5. 8. A network that renders medical care from affiliated health care providers.
  6. 10. A contract.
  7. 12. Covers the risk of financial loss due to legal expenses associated with automobile accidents.basic health insurance coveragebasic health insurance coverage
  8. 13. A risk-sharing firm that agrees to assume financial responsibility for losses that may result from an insured risk.
  9. 14. The set amount that the policyholder must pay per loss on an insurance policy.
  10. 16. Pays most of the costs exceeding those covered by the hospital, surgical, and physician expense policies.
  11. 17. Provides payments to replace income when an insured person is unable to work.
  12. 18. A federal health insurance program for people 65 or older, people of any age with permanent kidney failure, and people with certain disabilities.
  13. 21. The process that insurance companies use to determine the premiums that will be charged and whom they will insure.
  14. 23. The process of establishing a monetary fund to cover the cost of a loss.
  15. 26. An independent membership corporation that provides protection against the cost of hospital care.
  16. 27. A program of medical assistance to low-income individuals and families.
  17. 30. A provision under which both the insured and the insurer share the covered losses.comprehensive major medical insurance
  18. 32. Uncertainty or lack of predictability.
  19. 34. A method of evaluating the cost of life insurance by taking into account the time value of money.
  20. 37. A provision stating that the insurer cannot dispute the validity of a policy after a specified period.
  21. 38. A life insurance agent who has passed a series of college-level examinations on insurance and related subjects.
  22. 41. Supplements your basic personal liability coverage.
  23. 43. The uncertainties of direct or indirect losses to personal or real property due to fire, storms, or accidents.
  24. 45. When a person is held responsible for intentional or unintentional actions.
  25. 47. Prepaid health plans that provide comprehensive health care to members.
  26. 48. A person designated to receive something, such as life insurance proceeds, from the insured.
  27. 51. Pays for the cost of day-in, day-out care for long-term illness or disability.
  28. 54. A document attached to a policy that modifies its coverage.
  29. 55. The cause of a possible loss.