Fundamentals of Insurance - Chapter 1, Fundamentals of Insurance - Chapter 2 Q & A Grade A+

Assets - money or property you own Beneficiary - in life insurance, a person or entity named in the insured's will who should receive the benefits upon the insured's death Claim - a written request for reimbursement to cover loss or damage that occurred from a specific event Coverage - protection for a specific type of loss on an insurance policy, such as flood or fire Deductible - the amount of money you, the insured, agree to pay in the event of a loss, prior to the insurer paying the rest of the claim amount Dependent - a child or other person who relies on you for financial support Health insurance - compensation for medical care costs due to disease or injury Insurability - ability of an individual who has applied for insurance to be accepted by the insurer Insurance - protection against risk that financially compensates individuals in case of loss