In each blank, try to type in the
word that is missing. If you've
typed in the correct word, the
blank will turn green.
If your not sure what answer should be entered, press the space bar and the next missing letter will be displayed. When you are all done, you should look back over all your answers and review the ones in red. These ones in red are the ones which you needed help on. Question: InsuranceAnswer: Insurance is protection against a possible loss that we hope will not happen. e.g a house fire or car . Question: PremiumAnswer: Premium is the fee for . Question: CompanyAnswer: insurance for both households and businesses. Question: BrokerAnswer: Works for him or herself to sell insurance on behalf of a of insurance companies. Question: AgentAnswer: Employed by an insurance company and insurance. paid by wages and commission if a sell is made. Question: Proposal Answer: An application form to sign up to the insurance . Question: PolicyAnswer: A written document from the company containing all the details of the insurance contract. Question: of InsuranceAnswer: A brief written summary of the main points of the policy. Question: Note Answer: Sent by the Insurance company stating that the is in place. Question: NoticeAnswer: A written reminder from the company that the next premium is due. Question: Life Answer: This is where an amount of money is paid to the persons dependants when the individual dies. Question: Endowment Answer: an agreed amount of money is paid when the insured reaches a certain age or on the death of the insured, ever occurs first. Question: InterestAnswer: In order to something, you must benefit from its existence and suffer from its loss. E.g., you can't insure your neighbours house . Question: Good FaithAnswer: You must tell all relevant when filling out the proposal form. (You must be truthful) E.g., If you have an illness you must tell the insurance company as they may want to charge you a higher premium or not insure you at all. Question: IndemnityAnswer: You can not make a profit from insurance. There is no point in insuring your house for more than its as the insurance company will only compensate you for the actual value of the house. Question: Answer: If a risk is insured with two insurance companies, each will pay half the compensation. If a ring with two insurance companies is worth £1000, each will pay £500. Question: Answer: Passes the legal right of the insured to the to claim from a third party who caused the loss. E.g., Whirlpool oven causes the house to go on fire. Insurance company pays compensation to the insured and the seeks compensation from Whirlpool company Question: Answer: This is an amount added by the insurance company to the premium for the following reasons: Age, where you live, type of work. Question: AssessorAnswer: Is a person sent by the insurance company to inspect the damage and calculate the amount of compensation that should be paid to the person. Question: -ClauseAnswer: A condition included in insurance policies that the value of a claim if you are under-insured. Question: Consequential Loss Answer: This covers the business from loss of profits resulting from having to stop trading while fire damage is repaired. Question: Public InsuranceAnswer: This covers the business any compensation that must be paid to a member of the public if someone is injured or killed in the premises. Question: Product InsuranceAnswer: This covers the business against any compensation that must be paid to the members of the who are injured or killed due to a faulty product. Question: Fidelity InsuranceAnswer: This covers the business against loss of income due to fraud or dishonesty by an . Question: Employers InsuranceAnswer: Compensation is paid if an is injured or killed. Question: Non-Insurable Answer: This refers to any risk which no company will insure. Question: ClauseAnswer: Sometimes an company will agree to insure something but will list certain conditions under which the insurance will not be paid. These conditions are known as exclusions. Question: ExcessAnswer: The amount that the person must pay themselves is know as the policy excess. Policy excess is subtracted from compensation. |
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