Question

match the insurance term with its definition premium deductible limit in kind income the amount of money you are responsible for after an incident occurs, in order for the insurance policy to kick in the cap or maximum amount your insurance will cover for an incident a benefit that does have monetary value (such as insurance) but is not included in one’s salary or wages your monthly bill or subscription to the insurance policy

Explanation:

To solve this, we match each insurance term with its correct definition:

1. Premium: The definition "your monthly bill or 'subscription' to the insurance policy" fits because a premium is the regular payment to maintain insurance coverage.
2. Deductible: The definition "the amount of money you are responsible for after an incident occurs, in order for the insurance policy to kick in" fits as a deductible is what the insured pays before the insurer starts covering costs.
3. Limit: The definition "the cap or maximum amount your insurance will cover for an incident" fits since a limit is the maximum payout an insurer will provide for a claim.
4. In kind income: The definition "a benefit that does have monetary value (such as insurance) but is not included in one’s salary or wages" fits as in - kind income refers to non - cash benefits with monetary worth.

Matching Result:

• Premium → your monthly bill or 'subscription' to the insurance policy
• Deductible → the amount of money you are responsible for after an incident occurs, in order for the insurance policy to kick in
• Limit → the cap or maximum amount your insurance will cover for an incident
• In kind income → a benefit that does have monetary value (such as insurance) but is not included in one’s salary or wages

Answer:

To solve this, we match each insurance term with its correct definition:

1. Premium: The definition "your monthly bill or 'subscription' to the insurance policy" fits because a premium is the regular payment to maintain insurance coverage.
2. Deductible: The definition "the amount of money you are responsible for after an incident occurs, in order for the insurance policy to kick in" fits as a deductible is what the insured pays before the insurer starts covering costs.
3. Limit: The definition "the cap or maximum amount your insurance will cover for an incident" fits since a limit is the maximum payout an insurer will provide for a claim.
4. In kind income: The definition "a benefit that does have monetary value (such as insurance) but is not included in one’s salary or wages" fits as in - kind income refers to non - cash benefits with monetary worth.

Matching Result:

• Premium → your monthly bill or 'subscription' to the insurance policy
• Deductible → the amount of money you are responsible for after an incident occurs, in order for the insurance policy to kick in
• Limit → the cap or maximum amount your insurance will cover for an incident
• In kind income → a benefit that does have monetary value (such as insurance) but is not included in one’s salary or wages