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insurence
| Question | Answer |
|---|---|
| beneficiary | individual, organization, or entity designated to receive assets, money, or benefits from a legal arrangement— |
| broker | independent, licensed agent or firm that acts as an intermediary between buyers and sellers |
| claim | a demand for something rightful (like insurance or property), |
| collision coverage | optional auto insurance policy that pays to repair or replace your vehicle if it is damaged in a collision with another vehicle or object |
| comprehensive coverage | an optional auto insurance policy that pays to repair or replace your vehicle if it is damaged by non-collision incidents, |
| co-payments | out-of-pocket dollar amount paid by an insured person for covered medical services, |
| death benefit | a payout to designated beneficiaries (spouse, children, or others) upon the policyholder’s death, |
| deductible | the specific amount of money you pay out-of-pocket for covered services or damages before your insurance plan begins to pay. |
| dental insurence | a type of health coverage designed to help individuals manage the costs of oral healthcare, |
| disability insurance | replaces a portion of your income if a serious illness or injury prevents you from working |
| effective data | and standardized description of a data element that ensures consistent interpretation and usage across an organization. |
| HMO | is a type of health insurance plan that provides coverage through a specific network of doctors, hospitals, and providers at lower costs |
| HRA | Health Reimbursement Arrangement |
| liability coverage | if you are responsible for injuring others or damaging their property, covering legal costs, medical bills, and repairs. |
| living benefits | life insurance policies that allow policyholders to access a portion of their death benefit while still alive, typically triggered by a terminal, chronic, or critical illness. |
| Medicare | primarily for individuals aged 65 or older, as well as younger people with specific disabilities, ESRD |
| power of attorney | is a legal document that allows you (the principal) to appoint a trusted person (the agent or attorney-in-fact) to manage your financial, legal, or health affairs. |
| premiums | payments made to an insurance company to keep a policy active, covering health, auto, home, or life insurance. |
| primary physician | your main healthcare provider, acting as the first point of contact for routine checkups, non-emergency illnesses, and injury treatment |
| term life insurence | affordable death benefit protection for a specific period, typically 10 to 30 years, designed to cover financial obligations like mortgages or income replacement during high-need years. |
| vision insurance | wellness benefit designed to reduce out-of-pocket costs for routine eye care, including eye exams |
| whole life insurance | life insurance that provides lifelong, guaranteed coverage with fixed premiums and a death benefit, |
Created by:
Hstephens27