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Insurance
| Question | Answer |
|---|---|
| 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 | an optional auto insurance that pays to repair or replace your vehicle after it collides with another vehicle or object, regardless of who is at fault. |
| Comprehensive Coverage | an optional auto insurance that protects your vehicle from damage caused by non-collision events such as theft, vandalism, natural disasters, or animal collisions. |
| Co-Payments | a fixed dollar amount you pay for a covered health care service under your health insurance plan, usually at the time you receive the service |
| Death Benefit | the amount of money paid to a beneficiary or beneficiaries after the death of the insured person, typically under a life insurance policy, pension plan, or other financial arrangement |
| Deductible | able to be deducted, especially from taxable income or tax to be paid. |
| Dental Insurance | a type of health coverage that helps pay for preventive, basic, and major dental services, making oral care more affordable. |
| Disability Insurance | a type of coverage that replaces a portion of your income if an illness or injury prevents you from working. |
| Effective date | the specific date when an insurance policy officially begins and coverage becomes active. |
| HMO | Health Maintenance Organization |
| HRA | Health Reimbursement Arrangement |
| Liability Coverage | a type of insurance that protects you financially if you are legally responsible for causing injury or property damage to someone else. |
| Living Benefits | A policy that allows you to access a portion of your funds or death benefit while you are still alive, its designed to help cover major financial burdens during unexpected life events rather than benefiting your kin after you pass. |
| Medicare | A federal health program in the U.S. primarily for elderly of the ages 65 and above, it can also cover younger patients with disabilities or permanent kidney failure. |
| Power of Attorney | A document that allows you to let someone else handle your finacial, legal or medical affairs. |
| Premiums | A sum of money paid in addition to a regular price or payment made to keep a service (like insurance) active. |
| Primary Physician | A licensed medical professional you see for routine checkups, everyday illnesses and ongoing health management. |
| Term Life Insurance | A simple and affordable policy that provides financial protection for a specific number of years. |
| Vision Insurance | A policy that helps cover routine eye care like annual exams, prescription glasses, and contact lenses. |
| Whole Life Insurance | A permanent life insurance that provides lifelong coverage and includes built in cash value savings. |
Created by:
Aconti28
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