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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 | auto coverage that reimburses the insured for damage sustained to their personal automobile, due to the fault of the insured driver. |
| comprehensive coverage | a 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 benefit | a payment to the beneficiary on an annuity, pension, or life insurance policy upon the death of the annuitant or policyholder |
| deductible | able to be deducted, especially from taxable income or tax to be paid. |
| dental insurance | an insurance coverage for individuals to protect them against dental costs. It insures against the expense of treatment and care of dental disease and accident to teeth |
| disability insurance | Administration that insures a worker in case of a mishap |
| effective date | the date upon which something is considered to take effect, which may be a past, present or future date |
| HMO | health maintenance organization. |
| HRA | health reimbursement account |
| 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 | a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured. |
| medicare | 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. Compare with whole life insurance. |
| 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 | a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. |
Created by:
sromanik18
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