Chapter 23 Vocabulary

3. Designed to begin paying when the basic coverage stops.
4. Person designated to receive the benefits of the policy upon your death.
7. Allows the freedom of choice that fee-for-service plans offer.
10. Amount of money you pay for your income.
12. Flexible insurance that allows the insured to alter the coverage as the need for protection and the ability to pay for it change.
13. Eliminates the legal process of proving who is at fault in an accident.
14. Designed to help people protect their assets in the event of a prolonged illness.
16. Covers the life of the insured for a specific amount of time.
17. Pays for doctors visits and hospitalization.
19. Covers damage to (or loss of) your home as well as the property inside your home.

1. Designed to cover a persons entire life and to build a cash value.
2. Another kind of health insurance that protects families or a person from income loss due to a disability or illness.
5. Offers both protection and savings.
6. One way of receiving/paying for health care; paying a set fee on a regular basis.
8. Offers varying degrees of protection and savings.
9. Protects against loss of income due to death of the insured.
11. Amount of money that will be paid to the beneficiary upon your death.
15. Amount of money you, the policyholder, would receive if the policy is surrendered before you death or when it matures.
18. Amount of money you pay for your insurance.