Real Life: Insurance Terms (2)

A ..... is a person who is named by a policy holder and compensated by an insurance company when a policy holder dies. This person is the one who receives the money that is paid out by the insurance company.

In the United States, a ..... payment is a partial payment made by a person who received medical care while covered under a group medical insurance plan.

Some insurance policies include disability ...... These are compensation terms that are in place should a policy holder become partially or fully disabled in the event of an unforeseen accident.

In order to lower insurance premiums, some people opt for a ...... This is an agreed upon amount that must be paid by a policy holder before an insurer pays out any compensation.

If a person fails to pay their insurance premiums on time, his/her account will fall into a ..... state.

When people enter into a ..... insurance policy, they do this so their families are taken care of and compensated should the insured parties die.

A no-..... insurance plan means that your own insurance company pays you for any injuries and/or property damage that occurs in minor accidents - regardless of who is to blame for the accident.

An insurance policy ..... is coverage that is continued past the specified, original term dates.

A ..... option is alternative method of payment, other than a lump sum payment, that a beneficiary can choose when a pay-out is underway.

Workers' ..... insurance is a policy that is taken out by companies in the event employees are injured or killed at work.