Question

general financial literacy
4501
match the insurance type with its correct definition. (drag-and-drop your answer to the appropriate box.)
insurance that pays benefits in the event the insured becomes incapable of working
insurance against loss by illness or bodily injury, which may cover doctor visits, medicine,
or hospitalization
insurance that pays a beneficiary in the event of an insured’s death
insurance that covers damages to property and land which may cover damage from fire,
flood, or earthquakes
health disability life homeowner

Explanation:

1. For "Insurance that pays benefits in the event the insured becomes incapable of working", the correct match is Disability (as disability insurance covers loss of ability to work).
2. For "Insurance against loss by illness or bodily injury, which may cover doctor visits, medicine, or hospitalization", the correct match is Health (health insurance is for medical - related losses).
3. For "Insurance that pays a beneficiary in the event of an insured’s death", the correct match is Life (life insurance provides a payout on the insured's death).
4. For "Insurance that covers damages to property and land which may cover damage from fire, flood, or earthquakes", the correct match is Homeowner (homeowner's insurance covers property/land damage).

Answer:

1. "Insurance that pays benefits in the event the insured becomes incapable of working" - Disability
2. "Insurance against loss by illness or bodily injury, which may cover doctor visits, medicine, or hospitalization" - Health
3. "Insurance that pays a beneficiary in the event of an insured’s death" - Life
4. "Insurance that covers damages to property and land which may cover damage from fire, flood, or earthquakes" - Homeowner