Insurance Fundamentals
Protect your financial future by understanding the basics of insurance with this easy-to-follow flashcard deck. It covers life insurance, health insurance, premiums, claims, and risk management. Designed for beginners, this deck simplifies insurance concepts so you can choose the right coverage and avoid costly mistakes. Learn how insurance works and why it is essential for long-term financial security.
Cards in this deck
What is insurance?
A contract that provides financial protection against potential losses.
What is a premium?
The amount you pay regularly for insurance coverage.
What is a claim?
A request made to the insurer for compensation.
What is life insurance?
Coverage that pays money to beneficiaries after the policyholder’s death.
What is health insurance?
Coverage for medical expenses and healthcare costs.
What is deductible?
The amount you pay before insurance coverage starts.
Why is insurance important?
It reduces financial risk and provides security during unexpected events.