Unit 6 Insurance Review

someone who relies on someone else for money income and care

payment to others if a member of the insured household accidentally causes harm to other people or property

someone who receives insurance money if the insured person dies

chance of loss from an event that cannot be entirely controlled

payment to beneficiaries if an insured person dies

amount of money, after deductible, that is paid jointly by the insured and the insurance company

paperwork submitted to insurance organization describing the accident, illness or injury

A contract that specifies what risks are covered and how much will be paid for losses

payment for liability and property insurance on a vehicle

The risks covered and amount of money paid for losses under an insurance policy

Money paid to purchase the policy

amount of money paid out of pocket by policyholder before the insurance coverage begins

transfers risk from an individual to an insurance organization