Головна |
Read, translate into Ukrainian in written form and learn by heart the definitions of the following economic terms and concepts.
1. Collision or motor insurance: a special form of insurance covering the owner of a motor vehicle against loss or damage due to accident, fire, theft, etc. and his legal liability to other road users or to other people's property.
2. Endowment insurance policy:a form of life insurance policy that pays a specified amount of money on an agreed date or on the earlier death of the person insured.
3. Group insurance policy:a life insurance policy that insures the lives of many people or all the employees in an organization. Premiums are deducted from salaries or wages.
4. Health insurance: a form of insurance that covers medical treatment and all other
associated costs.
5. Insurance: a protection against financial loss by sharing risks with others.
6. Insurance policy:a document that sets out the terms and conditions of an insurance contract, stating the benefits payable and the premium required.
7. Liability insurance: insurance that protects the insured person against his liability to pay compensation for injury to other people or for damage to their property.
8. Life insurance: insurance that includes all forms of insurance that relate to an inevitable event such as a person's death, or the date he reaches a certain age.
9. Major medical insurance: a form of health insurance that reimburses the extraordinary expense of long-term illness and serious injuries.
10. Medical expenses policy (basic coverage policy): a policy that insures a person against the risk of accident or illness.
11. Premium: the money paid by the insured to the insurers in return for insurance cover or benefits payable under the conditions in an insurance policy.
12. Property insurance: insurance covering loss, damage, or destruction of any form
of a person's property.
13. Term life insurance policy: a form of insurance contract that operates for a specified period of time; the sum insured becomes payable if the insured person dies within this period.
14. Whole life insurance policy: a form of life insurance policy that provides that the insured person pays the premiums (weekly, monthly, or yearly) for the rest of his life, and that the insurer pays a specified amount only on the death of the life insured.