Taxes & Insurance Key Terms

2. The contract issued by the insurance company to the policyholder.
6. A government health program for people with low income.
8. Responsibility to another person for your own negligence.
9. (Employee's Withholding Certificate): A form employees fill out to inform their employer how much federal income tax to withhold from their paycheck based on their filing status, dependents, and other factors.
12. (Wage and Tax Statement): A form that employers send to employees and the IRS, detailing the employee's annual wages and the taxes withheld from their paycheck.
14. Car insurance that pays for damage to your car caused by non-collision events, like weather or theft.
16. Insurance that provides money to your beneficiaries if you pass away.
18. The cost associated with replacing property at current market prices.
19. The amount paid by a policyholder to an insurance company to obtain or maintain an insurance policy.

1. Insurance that helps pay for car repair costs after an accident with another vehicle.
3. A request made to an insurance company to cover costs for a loss or damage.
4. Insurance that protects your home and belongings from damage, theft, or disasters.
5. The person or party who owns an individual insurance policy, also called a policyholder.
7. (U.S. Individual Income Tax Return): A tax form that individuals use to file their annual income tax return with the IRS, reporting income, deductions, and credits to determine the amount of tax owed or refund due.
10. An estimate from an insurance company of what they can offer you, including the cost.
11. A person who sells insurance policies.
13. The amount the insured must pay in a loss before any payment is due from the company.
15. A person who investigates and settles insurance claims.
17. (Employment Eligibility Verification): A form that employers in the U.S. use to verify an employee’s identity and their authorization to work in the United States.