Insurance Key Terms Pdf Answers
Learn vocabulary terms and more with flashcards games and other study tools.
Insurance key terms pdf answers. What is a deductible. A plan by which a company gives protection from the cost of injury or loss. An independent agent represents more than one company. Are we missing anything.
As a useful guide to insurance vocabulary it will help you understand your coverage or benefits plan page. Glossary of insurance terms actuary a professional trained in the mathematics of insurance and risk management including the calculations of premiums policy reserves and other values. Why do insurance policies include deductibles and co insurance. Knowledge about these terms will help you in the online tests as well as the interview phase of these examinations.
Knowing the basic insurance terms is of extreme importance if you are targeting any of the insurance exams such as lic aao lic hfl assistant esic sso uiic aao uiic assistant nicl assisant oicl ao nicl ao niacl ao irdai assistant manager exam etc. Use the form to the right to tell us and we ll add the word term. Deductible copayment coinsurance and out of pocket maximum. Start studying personal finance.
Once an insurance policy is in place a claim can be made if an accident occurs. 2 an insurance policy is a written contract with an insurance company. Write the definition of each vocabulary word in your own words. A captive agent represents only one company.
Many a times it is also referred to as policy term or policy duration. Insurance key terms total points earned name 27 total points possible date percentage class directions. Create a sentence in the third column using both words from that row. Key terms for understanding car insurance quotes.
Insurance can be provided to an individual from any of these three sources. Here is an insurance glossary or list of travel insurance terms that you need to know when searching for a policy. Terms in this set 12 insurance. Agent the insurance company representative who sells policies on behalf of the insurer.
The sentence should provide. A glossary of auto insurance terms can really help you understand your policy as you deal with a claim. What is a claim. The chance of loss from an event that cannot be entirely controlled.
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