Question

value: 8
match the following terms with their correct definitions.
a. insurance in which the risk is death of the person insured and when death happens
b. when a sickness or injury keeps you from working at all.
c. the payment of the entire policy in one payment unless the insured or beneficiary changes it to smaller payments.
d. a person whom the proceeds of a life insurance policy are given too.
e. the periodic payment required to keep a specific insurance policy in force.

1. beneficiary
2. life insurance
3. premium
4. total disability
5. lump sum

Explanation:

Match each insurance term to its corresponding definition by aligning core meanings:

1. Beneficiary refers to the person who receives life insurance proceeds.
2. Life Insurance is centered on the risk of the insured's death.
3. Premium is the regular payment to maintain an insurance policy.
4. Total Disability means being unable to work due to sickness or injury.
5. Lump Sum is a one-time full payment of a policy amount.

Answer:

1. Beneficiary - d. A person whom the proceeds of a life insurance policy are given to.
2. Life Insurance - a. Insurance in which the risk is death of the person insured and when death happens
3. Premium - e. The periodic payment required to keep a specific insurance policy in force.
4. Total Disability - b. When a sickness or injury keeps you from working at all.
5. Lump Sum - c. The payment of the entire policy in one payment unless the insured or beneficiary changes it to smaller payments.