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