25 insurance

words

insurance policy

claim

insure(r )

(full )coverage

Policyholder

Risk(assessment)

Exemption

Premiums

Insurance period

Life insurance

Liability

Damage

Deductible(s)

Medical insurance

Travel insurance

Settlement

Payment

Condition

Phrases

Make a claim

Insure an item

Take out insurance

Have…valued at…

Pay premiums

Assess a risk

Pay out insurance

Read the policy

Beginner

A: I’ve just take out an insurance policy. Are you insured?

B: yes, I am. I have life insurance and my home and its contents are also insured.

A; I took out a life insurance policy and make my wife beneficiary.

B: that’s a good idea. You are a fireman and it can be a dangerous job.

A: I need to make sure that my wife will be financially secure if I die.

B; I can temp3inate my life insurance policy when I retire and use the money as a pension.

A; that’s one of the conditions of my policy too. It covers you if you die before you retire and when you retire.

B; did you have to take a medical before you could take out the policy?

B: yes, I did. It was one of the conditions of the insurance policy. The insurance company need to assess the risk.

Intemp3ediate

A: good morning. I’d like to ask some questions about your insurance policies.

B: of course. Please sit down. How many I help you?

A; I bought a house recently and would like to insure it and its content.

B: I see. Here’s a pamphlet about our home insurance policy. We’ve named our policy ”umbrella”. May I ask how much you paid for your home and where you live? These are the two main thing that decide how much your premiums are.

A: I understand. I live in the Oakfield area and paid $100,000 for my home.

B: let me just check that on my computer. Oaksfield is a low risk area, so your premiums will probably be around $100 a month. The other thing to take into account is deductibles.

A: in this pamphlet it says that the minimum amount for deductibles is $2000. what does that mean exactly?

B: it means That the first $2000 of any claim you make must be paid by you. The insurance policy covers any amount above that, up to the agreed limit.

A: oh, I see. That’s fine. What is the advantage of having higher deductibles?

B; If you have higher deductibles, your premium are lower, because you will pay more of the claim and we will pay less.

A: it seems that I should do some calculations before deciding. I presume that the insurance period can be for as long as we aggress.

B: we initially sign one-year policies with our policyholders. These are renewable after the first year.

A; if I have a claim, how long does it take to make a settlement? I’ve heard that with some insurance companies, it can take monthes.

B; that is of great concern to out clients. We aim to satisfy all claims within a month, but we can’t guarantee that