Insurance Overview (Leaving Cert Home Economics): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What is insurance?
What is insurance?
Financial product protecting against losses
How do insurance companies ensure funds are available when someone makes a claim?
How do insurance companies ensure funds are available when someone makes a claim?
They pool premiums from many customers
What is a premium in insurance terms?
What is a premium in insurance terms?
Regular payments to keep insurance active
What is a deductible?
What is a deductible?
Amount you pay before coverage begins
What is a claim in insurance?
What is a claim in insurance?
Formal request for payment
Why should personal circumstances affect your insurance choice?
Why should personal circumstances affect your insurance choice?
Needs are unique to your situation
Why review existing policies before buying new insurance?
Why review existing policies before buying new insurance?
To avoid paying for same protection twice
What does health insurance help manage?
What does health insurance help manage?
Costs of medical care & surgery
Who receives the payment from life insurance?
Who receives the payment from life insurance?
Your chosen beneficiaries
What is the legal status of car insurance?
What is the legal status of car insurance?
Legally required for drivers
What does income protection insurance provide?
What does income protection insurance provide?
Regular income if unable to work
What is a key benefit of having insurance?
What is a key benefit of having insurance?
Financial security vs large losses