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4 Cards in this Set
- Front
- Back
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Name and briefly summarize the two main types of automobile insurance protection. (pg. 517-518) |
personal injury coverage: bodily injury liability, medical payments, uninsured motorist protection main source of money paid in claim by automobile insurance companies property damage coverage: property damage liability, collision, comprehensive damage protect you from economic loss |
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What is property insurance? From what kinds of economic losses does property insurance protect you? (pg. 522) |
insurance that protects you from the financial loss you would incur if some of your property were lost or destroyed due to fire, theft, vandalism, flood, or other hazard 1. Damage to your home or property 2. Expenses you must pay to live somewhere else if your home is damaged and must be repaired or rebuilt 3. Liability losses related to your property |
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What is a beneficiary? Who is most often names a beneficiary in a life insurance policy? (pg. 529) |
person named in policy to receive the insurance benefits spouse, children, other dependents |
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The premium you pay for universal life insurance is split in three ways. Describe them. (pg. 532) |
1st portion: for insurance protection 2nd portion: insurance company take second for expenses 3rd portion: into interest-earning investments for the policyholder |
