Ch. 9 & 11 test Flashcards
Term Life Insurance
for a specific period, replaces your income when you die
Ways to lower car insurance premiums
Good grades, driver education class, shop around, stay on parents policy through college, raised deduct
Cash value insurance
Is normally for life and is more expensive because it funds a savings plan
Liability insurance
Other person’s car
Comprehensive insurance
protects against natural destruction to car (flood, hail, wind)
Four types of insurance you should have after
Auto, renters, health, Identity theft
Insurance policy
contract between insured and insurance company. Says what insurance company covers
Beneficiary
Person who gets assets from will, when you die
Claim
Paperwork you file after lose
Will
Legally enforceable, where assets go when you die
Deductible
Amount you pay out of pocket before insurance company will pay the rest
Sales and excise tax are…
consumption taxes
Characteristics of an effective personal
Specific, Measurable, Attainable, Realistic, Time Bound
Date income taxes are due
April 15
w-4 form
Exemptions
