Insurance Overview (Leaving Cert Home Economics): Flashcards

Financial product protecting against potential financial losses

Regular payments to keep insurance active

Formal request for payment when something covered happens

Written contract detailing what is and isn't covered

Amount you pay before insurance coverage begins

Manages costs of medical care and surgical procedures

Lump sum to chosen beneficiaries when you pass away

Property & possessions from damage (fire, theft, weather)

Legally required; covers vehicle damage & liability to others

Unexpected expenses like medical emergencies while travelling

Regular income if illness/disability prevents you from working

Protects from potentially devastating financial losses

Reduces stress and anxiety about unforeseen circumstances