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Insurance
| Term | Definition |
|---|---|
| Beneficiary | a person who derives advantage from something, especially a trust, will, or life insurance policy |
| Broker | . a person who buys and sells goods or assets for others |
| Claim | state or assert that something is the case, typically without providing evidence or proof. |
| Collision Coverage | If your car is damaged or destroyed in an accident, collision insurance coverage will typically pay to fix or replace it |
| Comprehensive Coverage | Comprehensive insurance is an optional auto insurance coverage that protects your car against damage not resulting from a collision, as well as from thef |
| Co-payments | a payment made by a beneficiary (especially for health services) in addition to that made by an insurer |
| Death Benefit | the amount paid to a beneficiary upon the death of an insured person |
| Deductible | able to be deducted, especially from taxable income or tax to be paid. |
| Dental Insurance | People with dental insurance commonly have what's described as "100-80-50" coverage |
| Disability Insurance | Disability Insurance, often called DI or disability income insurance, or income protection |
| Effective date | An effective date or as of date is the date upon which something is considered to take effect, which may be a past, present or future date |
| HMO | short for health maintenance organization. |
| HRA | A Health Reimbursement Arrangement (HRA), commonly referred to as a health reimbursement account |
| Liability Coverage | Liability car insurance covers damages to another person resulting from an accident you cause. |
| Living Benefits | A rider that provides long-term care benefits for an insured person who is terminally ill, when attached to a life insurance contract |
| Medicare | Medicare is the federal health insurance program for people who are 65 or older |
| Power of Attorney | the authority to act for another person in specified or all legal or financial matters. |
| Premiums | an amount to be paid for an insurance policy. |
| Primary Physician | A primary care physician is a physician who provides both the first contact for a person with an undiagnosed health concern as well as continuing care of varied medical conditions, not limited by cause, organ system, or diagnosis |
| Term Life Insurance | life insurance that pays a benefit in the event of the death of the insured during a specified term. Compare with whole life insurance. |
| Vision Insurance | The term "vision insurance" is commonly used to describe health and wellness plans designed to reduce your costs for routine preventive eye care |
| Whole Life Insurance | life insurance that pays a benefit on the death of the insured and also accumulates a cash value. |
Created by:
bturner17
Popular Insurance sets