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 terminate 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.

Intermediate
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