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NGPF Insurance Answers – Semester Course Topics Covered
Below, we will be covering all quiz answer keys for the topic NGPF Insurance:
Ans: A formal request from the customer to an insurance company asking for a payment based on the terms of the insurance policy
Q. Collision Coverage
Ans: Auto insurance that protects you against costs to repair your own vehicle after a crash
Q. Comprehensive Coverage
Ans: Auto insurance that protects you against costs to repair or replace your vehicle after events out of your control such as weather, vandalism, theft, etc
Ans: A set dollar amount you agree to pay each time you receive medical treatment, while the insurance company agrees to cover the rest
Ans: The amount of money you agree to pay towards your losses before your insurance coverage will begin paying
Q. Homeowners insurance
Ans: Insurance is designed to cover the costs of damage to a home or property in the event of a theft, natural disaster or another unexpected event.
Ans: An agreement where you make regular payments to a company and the company promises to pay you money if you suffer an injury, illness, loss, etc
Q. Insurance Agent
Ans: An employee of an insurance company who sells insurance policies and provides customer service
Q. Insurance Fraud
Ans: An act on the part of either the buyer or seller of an insurance contract in an attempt to gain money illegally
Q. Insurance Policy
Ans: A contract in which an individual or entity receives financial protection or reimbursement against losses
Q. Liability Coverage
Ans: Auto insurance that protects you against medical costs for the bodily injury of others and damages to the property of others if you are at fault in an accident
Q. Life insurance
Ans: Provides financial protection for one’s family in the event of death.
Ans: When someone with insurance endures a negative outcome, such as injury or theft, and expects payment from the insurance company to compensate them
Q. Minimum Liability Limit
Ans: The lowest amount of auto insurance coverage one can have to be legally allowed to drive in each state
Q. Personal Injury Protection (PIP)
Ans: Auto insurance that protects you against the cost of your own medical bills if you are involved in a car accident
Q. Personal property insurance
Ans: Coverage that allows an individual to ensure important or expensive personal items.
Ans: The specified amount of payment is required periodically by an insurer to provide coverage under a plan for a defined period of time
Ans: An estimate of what premium you would pay for a certain insurance coverage plan
Ans: A situation involving exposure to danger, harm, or loss
Q. Uninsured/Underinsured Coverage
Ans: Auto insurance that protects you against another driver not having enough coverage to pay the entirety of your losses
NGPF Types of Car Insurance Answers
Q. If your car was damaged in an accident, I’ve got your back. It doesn’t matter who was at fault while driving. However, if the damage came from something besides a crash, I won’t be around to help you
Q. You are hit in an accident by another driver. At the hospital, you discover the other driver doesn’t have insurance to cover your medical bills. That’s when I kick in!
Q. Doesn’t matter who was at fault, if you’re in a car accident and need your injuries paid for, I’m there for you. Simple as that. However, anything beyond your injuries and I can’t help you.
Ans: Personal Injury Protection / No-fault insurance
Q. I’m the best friend of new and/or expensive cars because repairing even small damage can be incredibly costly. Did I mention that the damage doesn’t even have to be from an accident with another driver? Nope! If you hit an animal, or your car is stolen, or a tree falls on it, I’ve still got you covered! (But read my fine print because there are a few cases I won’t cover).
Q. I’m the one you call when you cause damage to other people and vehicles. I protect others against you in case an accident is your fault (which protects you… in your wallet). But I won’t pay for any damage to your car or body.
Ans: Uninsured/Underinsured motorist charge coverage
Q. Stephen is slowing down as he approaches a red light. He is looking in his mirror to switch lanes and misjudges how close Keisha’s car is, rear-ending her car. When they get out and assess the damage, Keisha’s bumper will need to be replaced. What type(s) of insurance could Stephen use to cover this accident?
Q. Keisha had some discomfort in her neck at the time of the accident but thought it was minor and would go away.A week or so after the accident, Keisha finally goes to the doctor, who diagnoses her with whiplash and recommends two months of physical therapy. What type(s) of insurance could Keisha use to cover this accident?
Ans: No-fault insurance
Q. Melanie gets into an accident on the highway that sends her to the hospital for three weeks with multiple broken bones. Her hospital bill totals over $32,000, but she discovers that the woman who hit her only has $25,000 worth of liability insurance. What type(s) of insurance could Melanie use to cover this accident?
Q. Bernard is driving late at night down a narrow road when a deer runs across the road. Bernard doesn’t have time to avoid the deer and hits it. His windshield gets smashed and his bumper is partially ripped off, but Bernard is okay. What type(s) of insurance could Bernard use to cover this accident?
NGPF Types of Health Insurance Answers
Q. In your own words, explain what actuarial value is.
Ans: Actuarial value is the average percent of the cost paid by your medical insurer each year.
Q. Using the information from the video, fill out the table below for the different plan “metals”.
Q. Finish the following sentence with the word LOWER or HIGHER
Ans: He LOWER the actuarial value of your health insurance plan, the lower your monthly premium.
Q. Finish the following sentences by using a plan metal.
The platinum plan will have the highest monthly premium.
The bronze plan will have the highest out-of-pocket costs.
Q. Explain what a Catastrophic Plan is, who qualifies, and what it does and does not cover.
Ans: A catastrophic plan are only available to those who are below 30 years old and those with hardships exemptions they cover few expenses like prescription drugs.
Q. Fill out the table below on the types of plans available to you.
Q. Which type of plan metal and type of plan would you want? Explain your reasoning
Ans: Silver or Bronze – because if you’re generally healthy, you would save more money.
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