GENO says:Welcome to Insurance IQ! Insurance might seem boring, but it's your financial shield against life's disasters. Without it, one accident or illness could wipe out years of savings. Let's understand how to protect yourself and your family!
Choose Your Topic
Select an insurance topic to master
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Insurance Basics
Premiums, deductibles, and how insurance works
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Types of Insurance
Health, auto, life, renters, and more
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Smart Decisions
What you need vs what you don't
🛡️ Insurance Terms You Must Know
• Premium: The amount you pay (monthly/annually) to keep your insurance active.
• Deductible: What you pay out-of-pocket before insurance kicks in. Higher deductible = lower premium.
• Copay: A fixed amount you pay for a service (like $20 for a doctor visit).
• Out-of-Pocket Maximum: The most you'll pay in a year. After hitting this, insurance covers 100%.
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