Unit Seven: Money and Career Management (3) Review

What is an insurance premium?

Your renter's insurance policy costs $$25/month\ and\ has\ a$$ 1,200 deductible. A thief breaks into your apartment and steals your $1100 TV set. How much would your insurance company pay?

Why would someone choose to get long term disability insurance even if they already have health insurance?

Frank has an auto policy with a coverage limit of $$30,000 and a deductible of$$ 1,000. He gets into an accident and the damages to his car total $6,200. Fortunately, he has collision coverage. How much will Frank need to pay out-of-pocket?

Social Security generally provides (retirement) insurance for which of the following groups of people?

What is a potential consequence of not having mandatory insurance types like auto, health, life, disability, and renters/home insurance?

What is the benefit of starting to pay for insurance early?

Fill in the blank: The sooner you start paying for insurance, the sooner you will reach your maximum ________ requirement.

While parked on the street overnight, Sam's car is hit by a falling branch from the tree he parked beside. The hood is dented and the windshield is severely cracked. Which type of auto insurance coverage will help cover the cost to get the hood and windshield replaced/fixed?

Lucille just graduated college and is on a very tight budget, so she chooses a health insurance plan with a low monthly premium and a high deductible. She figures that if she gets seriously ill or injured, she'll just change the plan before she heads to the doctor or hospital. Why won't her plan work?