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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 | the insured for damage sustained to their personal automobile, due to the fault of the insured driver. |
| Comprehensive Coverage | coverage that helps pay to replace or repair your vehicle if it's stolen or damaged in an incident that's not a collision. |
| Co-Payments | a payment made by a beneficiary (especially for health services) in addition to that made by an insurer. |
| Death Benefits | 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 | insurance coverage for individuals to protect them against dental costs. |
| Disability Insurance | offers income protection to individuals who become disabled for a long period of time, and as a result can no longer work during that time period. |
| Effective Date | the date upon which something is considered to take effect, which may be a past, present or future date |
| HMO | a health insurance provider with a network of contracted healthcare providers and facilities. |
| HRA | consists of employer-funded plans that reimburse employees for incurred medical expenses that are not covered by the company's standard insurance plan |
| Liability Coverage | any insurance policy that protects an individual or business from the risk that they may be sued and held legally liable for something such as malpractice, injury or negligence |
| Living Benefits | can help offer peace of mind at a critical time. It entitles the policy owner to an early (accelerated) payout of policy death benefits |
| 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 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. |
| Vision Insurance | A financial protection plan that requires the policyholder to pay a monthly fee in exchange for reduced-cost fees on some eye health and vision correction services and products. |
| Whole Life Insurance | life insurance that pays a benefit on the death of the insured and also accumulates a cash value. |
Created by:
kfrost18
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