Chapter 35: Life and Health Insurance

Medicare

________ is the U.S. governments major health insurance program for the elderly.

percentage of medical expenses

Many health insurance policies have coinsurance, a(n) ________ that a policyholder must pay beyond the deductible.

mutual funds

With variable life insurance, the cash- value part of the premium is used for investments such as stocks, bonds, and ________, rather than savings.

Medicaid

________ is a federally and state- funded health- care plan for people who are unable to pay for insurance or health care.

survivor

A beneficiary, who is a(n) ________, is someone who receives part or all of the proceeds.

Health insurance

________ provides protection against the costs of illness and accidents.

policyholders death

Upon the ________, the insurance company pays the survivors the value of a life insurance policy, or the proceeds.

Cash value insurance

________, or permanent insurance, provides both savings and death benefits.

Beneficiary

A __________, who is a survivor, is someone who receives part or all of the proceeds.

HMO

A ________ provides health care at its own health center for a fixed fee per month.

PPO

A _________ is a group of doctors and hospitals that agree to provide specified medical services to members at pre arranged fees.