Insurance and credit

3. Insurance coverage that pays for damage to your car from an accident.
4. Legal responsibility for damages or injury to another person or property.
6. Credit A type of credit that renews as you pay off debt, like a credit card.
7. The amount paid for an insurance policy, usually monthly or yearly.
9. The person who receives money from a life insurance policy.
13. Insurance Coverage that protects against financial loss from car accidents or theft.
15. Payment The smallest amount that must be paid on a credit account each month.
16. The cost of borrowing money, usually expressed as a percentage.
18. The written contract outlining the terms and coverage of an insurance agreement.
19. Loan A loan backed by collateral to reduce the lender’s risk.
20. of Credit A flexible loan that allows you to borrow up to a certain limit as needed.
21. The most common credit scoring model used by lenders.
25. Insurance Provides a payment to beneficiaries upon the insured person’s death.
26. Percentage Rate (APR) The yearly cost of borrowing, including interest and fees.
27. Limit The maximum amount you are allowed to borrow on a line of credit.
28. Loan A loan repaid with regular, fixed payments over time.

1. Score A number that represents a person’s creditworthiness.
2. An asset pledged as security for a loan.
5. Insurance that replaces part of your income if you are unable to work due to illness or injury.
6. Insurance Coverage for personal belongings in a rented property.
8. Loan A loan not protected by collateral, based on credit history.
10. Insurance coverage that pays for damage not caused by a collision, such as theft or fire.
11. The original amount of money borrowed or invested before interest.
12. Insurance Protection for your home and belongings against damage or loss.
14. The amount you pay out of pocket before insurance coverage begins.
17. A person who agrees to repay a loan if the borrower fails to do so.
22. Insurance Coverage that pays for medical expenses and treatments.
23. Period The time between the statement date and when payment is due before interest is charged.
24. A formal request for payment from an insurance company for a covered loss.