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Consider the key terms in the list below. Then use these terms tocomplete the following exercises.insurancelimited-payment life insurancepolicyholderbeneficiaryriderinsurable interestpremiumface valuecash valuelife insurancecoinsuranceinland marine insuranceinsureruniversal life insuranceendowment insuranceannuityterm insuranceMedicareMedicaidproperty insurancebinderfloater policyocean marine insuranceSelf-Check Quiz Visitthe UnderstandingBusiness and PersonalLaw Web site atubpl.glencoe.com andclick on Chapter 35:Insurance Protection—Self-Check Quizzesto prepare for thechapter exam.1. With a partner, create an agenda for an imaginary meeting withan insurance agent. Use as many of the key terms as possible.2. With a partner, role-play a conversation with an insurance agentto discuss your insurance needs.3. Present your discussion to the class.Answer the following questions. Refer to the chapter for additional reinforcement.4. Would it be possible for you to take out an insurance policy on your teacher’s car?Why or why not?5. What is the difference between the face value and the cash value of a lifeinsurance policy?6. Why is it usually less expensive to buy life insurance when you are young?7. Which features should you look for when you purchase term insurance?8. What is the purpose of a binder?Chapter 35: Insurance Protection 767

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