Insurance
Terms
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- Mortgage
- loan on a house
- home owners
- insurance on a house
- policy
- what is covered by your insurance
- Life insurance
- insurance you pay for when you die
- insurance
- protection, leagalized gambling
- PI (personal injury)
- 5000 dollars for if you get hurt in an accident
- Term life insurance
- life insurance you pay for a period of time, rates will not go up in this time period
- Underinsured motorist
- car insurance that protects people who hit you without enough insurance
- limits
- usually three numbers that tell how much money goes to things like personal injury and property damage in an accident
- Premium
- how much you pay a month
- liability
- car insurance required by law that covers what you hit
- Catastrophie insurance
- health insurance, exept the company won't pay until you pay 10,000 dollars
- Benificiaries
- people who get your money when you die
- HMO
- a health insurance organization that focuses on saving the costomer money, but you can only go to doctors that are members
- Out of pocket maximum
- an amount you pay that when reached the insurance company pays the rest
- Riders
- items in your house that are covered by homeowners
- Health insurance
- can't afford not to have
- Uninsured motorist
- car insurance that you pay in case you hit someone without insurance
- Deductable
- how much you'll pay before the insurance pays a percentage
- Whole life
- after ten years you don't have to pay
- Shared and pooled risk
- the idea that all money that is payed to insurance companies is invested and makes money (more is put in than taken out)
- Comprehensive
- a type of car insurance that protects your car from things like vandalism or acts of God (required if you finance)
- Lquidity
- how easy you can or cannot get your money
- Collision
- a type of car insurance that covers your car when you get hit (not required by law but often required by banks)