Succeeding in the World of Work

Section 3: Health and Life Insurance

Answers to Section Review

1. Major medical offers wide physician choice, but high deductibles. HMOs offer low cost, but limited physician choice. PPOs have no deductible, but higher premiums.
2. An individual policy or a group policy through an association.
3. Whole life insurance allows money to accumulate in investments during the life of the policy. Term life simply pays a benefit when you die.
4. You would have to pay thousands of dollars worth of medical bills.