Relacionar Columnas Budgeting and Insurance TerminologyVersión en línea Matching game to identify definitions of various budgeting and insurance terms por Tonya Saoudi 1 Default 2 Asset 3 Gross income 4 Consumer Bill of Rights 5 Promissory note 6 Reconcile 7 Repossess 8 Late fees 9 Financial planning 10 CPSC 11 Finance charge 12 Grace period 13 Payment methods 14 Deficiency clause 15 Closing costs 16 Net income 17 Income 18 Contract 19 Money management 20 Amortization 21 Expenses 22 Payroll deductions 23 Opportunity cost 24 Installment loan 25 Budget 26 FDA Payment of a portion of the principle of a mortgage loan, reducing or amortizing the mortgage A loan in which the amount of payment and the number of payments are predetermined, such as an automobile loan The fees that credit card companies charge when you pay your bill past the due date Total income amount of income from wages or salary before payroll deductions A plan for spending and saving money based on a person’s goals during a given time period A blueprint or plan for managing all aspects of a person’s money How a person manages money coming in and going out Any items of value that people own, including cash, property, personal possessions, and investments A federal agency that sets and enforces safety standards for food, drugs, and cosmetics A creditor can repossess (or take back) and resell goods Money that a person receives such as a paycheck from a job, an allowance from parents, or interest earned on a savings account Any money a person spends or gives away The value of what is given up when a person chooses one option over another An agreement between two or more people that can be enforced by law Means of accepting payment; most common are credit card, electronic check, phone charge, corporate account, and invoice The total dollar amount a person pays to use credit Legal and binding contract signed between lender and borrower stating borrower will repay loan per the terms of the contract The time between the billing date and the payment due date when no interest is charged The amount of a paycheck that a person can actually spend; gross income less any payroll deductions Fees and charges for which a seller and buyer are responsible when a real estate transaction is To check a financial account against another for accuracy Forced or voluntary surrender of merchandise as a result of a consumer's failure to repay a loan as promised A federal agency that sets and enforces safety standards on household appliances, toys, and tools Failure to repay a loan in accordance with the terms of the promissory note Amounts subtracted from gross income that is withheld by an employer for items like taxes and employee benefits State of the Union 1962-JFK: 1) right to safety, 2) right to choose, 3) right to be informed, 4) right to be heard 1 Uninsured motorist insurance 2 Term life insurance 3 Beneficiary 4 No fault insurance 5 Underinsured 6 Disability income health insurance 7 Liability insurance 8 Comprehensive insurance 9 Collision insurance 10 Insurance 11 Catastrophic health insurance 12 Major medical insurance 13 Insurance rates 14 Insurance policy 15 Permanent life insurance 16 Premium 17 Group health insurance 18 Claim Insurance contract Life insurance that pays a death benefit if the policyholder dies within a specific time period but has no remaining value at the end of this time. Rates based on risk. Greater risk = greater chance of an accident = higher rate. Factors: geography, driver age/gender, car type/age, coverage Often included in major medical insurance policies. It covers the costs of intensive care, heart surgery, or long illness Financial protection purchased to compensate for loss A person who carries insufficient insurance to pay for losses he/she is liable for. Will cover you and your immediate family against injury by a hit-and-run driver or a driver who has no insurance. The driver's own insurance company pays for accident costs no matter who caused the accident. Life insurance that provides a death benefit plus a savings plan and lasts for the policy holder’s lifetime. A formal request made to an insurance company for payment for a loss Will cover the cost of repairing your car if it is damaged in an accident with another vehicle The amount of money you pay for your insurance. Protects you whether you are driving or someone else is driving your car with your permission The person designated to receive the benefits of the policy upon the death of another individual Covers your car if damaged by fire, flood, earthquake, hurricane, hail, collision with an animal, or stolen This is usually less expensive than individual policies. The employer pays a share of the cost and sometimes all of it Protects person/family from loss of income due to illness or disabling injury; guarantees continuation of a portion of wage earner’s salary This covers many out-of-hospital costs. It may also extend your basic policy and any additional days of hospital care
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