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Jeopardy!

Learn about insurance key terms, different types of insurance coverage, and common misconceptions. Understand the importance of insurance in financial planning.

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Jeopardy!

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  1. Jeopardy! Begin

  2. Key Terms 1 Key Terms 2 Types of Insurance True or False 1 True or False 2 What Covers This? $100 $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500 $500

  3. Key Terms 1 - $100An arrangement between an individual and an insurer to protect the individual against risk. C1-$100

  4. What is insurance?

  5. Key Terms 1 - $200A contract between the individual and the insurer specifying the terms of the insurance arrangments. C1-$200

  6. What is a policy ?

  7. Key Terms 1 - $300The fee paid to the insurer to be covered under the specified terms. C1-$300

  8. What is a premium?

  9. Key Terms 1 - $400The amount paid out of pocket by the policy holder for the initial portion of a loss before the insurance coverage begins. C1-$400

  10. What is a deductible?

  11. Key Terms 1 - $500The uncertainty about a situation’s outcome. C1-$500

  12. What is risk?

  13. Key Terms 2 - $100Covers a collision with another object, car or from a rollover. C2-$100

  14. What is collision insurance?

  15. Key Terms 2 - $200Covers all physical damage losses except collision andother specified losses. C2-$200

  16. What is comprehensive?

  17. Key Terms 2 - $300The recipient of any policy proceeds if the insured person dies. C2-$300

  18. What is a beneficiary?

  19. Key Terms 2 - $400The consumer who purchased and owns the policy. C2-$400

  20. What is the policyholder?

  21. Key Terms 2 - $500A driver who does not have automobile insurance. C2-$500

  22. What is an uninsured motorist?

  23. Types of Insurance - $100 • Provides protection against financial losses resulting from injury, illness and disability. C3-$100

  24. What is health insurance?

  25. Types of Insurance - $200 • A contract between an insurer and policyholder specifying a sum to be paid to the beneficiary upon the insured’s death. C3-$200

  26. What is life insurance?

  27. Types of Insurance - $300Combines property and liability insurance into one policy to protect a home from damage costs due to perils. C3-$300

  28. What is homeowner’s insurance?

  29. Types of Insurance - $400Protects against water damage from natural disasters. C3-$400

  30. What is flood insurance?

  31. Types of Insurance - $500Replaces a portion of one’s income if they become unable to work due to illness or injury. C3-$500

  32. What is disability insurance?

  33. True or False 1 - $100Auto insurance is required by law to drive an automobile. C4-$100

  34. What is true? • Liability is the minimum amount of insurance required by law to be driving an automobile.

  35. True or False 1- $200Most individuals or families can afford health care and medical expenses. C3-200

  36. What is false? • Health care costs are extremely high and it can be hard for the average person to afford health care. Large medical expenses could wipe out an individual’s savings.

  37. True or False 1 - $300

  38. True or False - $300 DAILY DOUBLE

  39. Within a persons first three years of driving, there is a 50% chance a person will be involved in an automobile accident.

  40. What is false? There is a 70% chance a person will be involved in an automobile accident within the first three years of driving.

  41. True or False 1 - $400Life insurance is necessary for everyone. C3-$400

  42. What is false? • Life insurance is necessary for anyone who has someone depending on them financially.

  43. True or False 1 - $500A claim is the request you make to your insurance company for payment, based on the terms of your insurance. C3-$500

  44. What is true? You “file a claim” in order to be reimbursed for expenses or to ask the insurance company to pay, as outlined in the policy.

  45. True or False 2- $100 When renting an apartment, the renter should purchase renter’s insurance because the owner’s insurance will not cover the renter’s possessions. C4-$100

  46. What is true? The owner’s insurance will cover the building’s structure, but not the contents in all of the rented apartments.

  47. True or False 2 - $200Insurance plays a small role in most individual’s financial plan. C4-$200

  48. What is false? • Insurance plays a large role in most financial management plans. It helps cover expenses when unexpected events occur.

  49. True or False 2 - $300 • The cost of car insurance is not the same for everyone – even if they drive the exact same car. C4-$300

  50. What is true? • Automobile insurance premiums also take into account the driving record of the people using the car, the amount of coverage purchased and the location of the driver.

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