Mr Brain's Investing &P.F.-ch 26-27

whole life policy

premiums never change. (as long as you keep paying) It offers a death benefit but also builds up a cash value over time

term life policy

allows you to buy insurance for a specific period of time

life insurance policy

provides a monitory benefit upon the death of the person insured

workers compensation

disability insurance that results from an injury on the job

social security disability

this is a part of the overall social security program

group disability insurance

usually provided by an employer for all employees. The employer usually pays but not always and only lasts as long as you work for them

disability insurance

insurance plan that makes regular payments to replace income lost when illness or injury prevents the insured from working

assigned risk pool

This is a group of high risk drivers that the state will assign to a company

uninsured / underinsured coverage

pays for your injuries when the other driver is legally liable but unable to pay

personal injury protection

also known as medical coverage for the insured and family / passengers regardless of fault

comprehensive coverage

protects vehicle from causes other than collisions or driving accidents

collision coverage

coverage that protects your own car against damage from accidents. Its coverage for your fault or in case the other drivers fault and they have no liability coverage.

liability

protects against claims of bodily injury or property damage to another person due to your fault

attractive nuisance

a dangerous place, condition, or object that is particularly attractive to children such as a swimming pool or trampoline

homeowners insurance

insurance that protects property owners from property and liability risk