SECTION 4 ASSESSMENT Reviewing Ideas and Terms 1. a. Define Write a brief defini
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SECTION 4 ASSESSMENT Reviewing Ideas and Terms 1. a. Define Write a brief definition for the terms Critical Thinking 3. Summarizing Copy the graphic organizer Using your notes, list the different kinds of insurande you have read about and what each kind covers. Add boxes if you need to. insurance, premium, private insurance, and beneficiary b. Summarize How can insurance companies cover large risks in return for relatively small premiums? Type What it Covers 2. a. Define Write a brief definition for the terms social insurance, Social Security, Medicare, and Medicaid. b. Compare and Contrast What is the difference between unemployment compensation and workers' compensation? c. Summarize What do the Medicare and Focus on Writing 4. Supporting a Point of View Do you think Social Security has encouraged Americans to become too dependent on the state and federal governments for support in times of need? Write a paragraph explaining your answer Medicaid programs provide? 526 CHAPTER 19Explanation / Answer
First question is answered below
3.
Insurance refers to an act of getting oneself protected in times of calamities.
Types of insurance and what they cover are:
Life insurance (covers entire life and risk of death)
Health insurance (covers health risk to individual)
Vehicle insurance (covers vehicle safety and theft)
Travel insurance (covers risk while traveling)
Home insurance (covers house property insurance)
Flood insurance (covers risk due to floods)
Liability insurance (covers protection to the purchaser from the risks of liabilities imposed by lawsuits and similar claims)
Pet insurance (covers any harm or health risk to pet)
Renters insurance (covers risk to tenants)
Although there are close to 100 types of insurance, the major ones have been listed above.
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