Chapter 7 Cause And Effect Dave Ramsey Flashcards
Without proper insurance, certain losses can ___ you.
Bankrupt
Basic needs of coverage needed
Homeowners or rental insurance Auto insurance Health Disability Long term care Identity theft protection Life
If you have a full emergency fund , raise your ___
Deductible
Carry adequate ___
Liability
Consider dropping your ___ on older cars
Collision
Homeowners insurance should be “guaranteed ___ cost
Replacement
____ liability policies are a good buy once you have some assets.
Umbrella
Increase your ___ and/or coinsurance amount
deductible
Increase your ___ , but never decrease your maximum pay.
stop-loss
See if an ___ , a Health Savings Account, would make sense for your situation.
HSA
The HSA is a ___ savings account for medical expenses that works with high deductible insurance policy.
tax-sheltered
Disability insurance is designed to replace __ lost due to a short-term or permanent disability.
income
Try to buy a disability insurance that pays if you cannot perform the job that you were educated or ____ to do.
trained
That is called , ___ or “own occ,” disability. Many times, this is only available for two years.
occupational
Beware of ____ policies covering less than 5 years.
short-term
The purpose of insurance is to ____ risk
Transfer
The ____ period is the time between the disabling event and when the payments actually begin.
elimination
A ____ elimination period will ____. your premium cost.
longer, lower
Long term car insurance is for ____
Nursing home
_____ of people over the age of 65 will require long term care
69%
Don’t buy ID heft protection that only provides credit report ____
Monitoring
Good protection includes ____ service that assign a ____
restoration, counselor
____ insurance is to replace oust income due to death
Life
______ Is for a specified period
Term insurance
_____ insurance Normally for life and is more expensive because it funds a saving fund
Cash value
The most common insurance myth is that the need for life insurance is a _____ situation. And you have investments that have grown to a substantial amount , you will become ______
permanent , self insured
Returns are historically ____
Low
When you die with cash value, the ___ company keeps cash value
Insurance
The ___ deductible from your return are extremely ____
Fees, high
Buy only lost-cost level ___
term
Do not forget your ____
Spouse
Stay away from fancy _____
Options
Children only need enough for ____ expenses
Burial
You need about ___ time your income
10
____ life and disability
Credit
Credit _____ protection
Card
______ and hospital indemnity
Cancer
Accidental ____
Death
Any insurance with ____ _____ , investments , or refund
Cash value
Pre paid ___ policies
Burial
____ life insurance
Mortgage
Any kind of _____ coverage
Deductible
