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Economics & Personal Finance
study cards
14
Economics
9th Grade
12/18/2011

Additional Economics Flashcards

 


 

Cards

Term
Risk management
Definition
refers to how you deal with the chance of a potention personal or financial loss.
Term
Insurance
Definition
a means of guaranteeing your financial protection against various risks.
Term
Insurance policy
Definition
a written contracts detailing what an insurance company will cover, how much it will pay & how much you will pay.
Term
Premium
Definition
the amount you pay for an insurance policy.
Term
Coverage limit
Definition
maximum amount the insurance company will pay if you file a claim.
Term
Deductible
Definition
amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
Term
What matters in the price of auto insurance?
Definition
age, gender, marital status, type of car, how often you use a car, location, driving record, claim record, and credit history.
Term
Health insurance
Definition
pays medical bills when you or your family becomes sick or injured.
Term
Property insurance
Definition
protects your possessions such as clothes, furniture, electronics, applicances, and computers.
Term
Life insurance
Definition
provides financial support for the people who depend on you in the event of your untimely death.
Term
Disability insurance
Definition
protects your earning power.
Term
Liability insurance
Definition
protects you in case you are legally responsible for unintentionally injuring someone or damaging another's property.
Term
Job
Definition
provides you with basics.
Term
Career
Definition
your chosen occupation.
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