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A rise in the average price level of a good or service produced in the economy. Can be caused by demand and pressure in the market.

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A sustained decrease in the average price level of all goods and services produced in the economy.

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Compulsory payments to governments by households and businesses.

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Amounts that are allowed to be subtracted from income before calculating tax. Common deductions include contributions to charity and mortgage interest.

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A listing of all the items in your home, often used in insurance claims.

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The current value of a person's assets minus liabilities.

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Legal responsibility to pay a debt or for damages or losses one has caused.

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Something of monetary value owned by an individual or an organization.

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The cash amount offered to the person by the life insurance company. Cancellation of the contract-may not apply to some kinds of life insurance contracts.

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A life insurance contact with level premiums that has both an insurance and an restraint component. The component pays a stated amount upon the death of the person. The investment accumulates cash value that the person can withdraw from.

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An insurance policy that is set on a duration limit on the coverage period. Once the policy is expired, it is up to the person to decide if they want to re-new the term life or end it. This life policy usually ends at 100 years old.

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Insurance that covers most serious medical expenses up to a maximum limit, usually after a deductible has been met.

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Insurance for your eye needs.

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Insurance that provides long-term coverage and care if the person is unable to work due to illness or injury.

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Insurance to protect your teeth and gums.

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A medical service charge payed by the person who is insured.

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A liability policy made to protect assets and future income of a policy holder for claims against them.

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Insurance made to protect professionals from claims due to errors or omissions, aka malpractice insurance.

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An insurance policy that covers property that is easily movable and  provides additional coverage over normal policies.
ex. jewelry, stereo equipment

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A written document attached to an insurance policy that changes the coverage offered under the policy. It can add coverage to things that are not covered already. (Custom Insurance)

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Insurance coverage that will pay the driver who is injured, or they suffer damages due to actions of a driver of another vehicle who is uninsured.

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A portion of your car insurance that pays for the medical injuries

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In some states, insurance claims are not paid by the person at fault for an accident. Instead each person is compensated by each company no matter who's at fault.

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Car insurance that pays for the cost of a bodily injury and property damages when the person who is insured person is at fault.

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A payment you need to pay before the insurance starts paying a claim

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Insurance that pays the repairs, or replacement of another car, only if the car was stolen or damaged by something that is not a collision. (minus deductible)
ex. hail storm, tree falls

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Insurance that pays the repairs for your car or a replacement for your car, only if your car is hit by another. (minus deductible)

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A driver or a class of drivers that would be denied insurance coverage nut must carry auto insurance under state law.

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An agreement with a company that will protect or reimburse loss, damage, injury, or death.
ex. car, health, renters, home, life