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Insurance vocab

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Term
Definition
Premium   The amount of money that must be paid for your health insurance. You and/or your employer usually pay it monthly, quarterly or yearly.  
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Homeowner's Insurance   Provides financial coverage for losses due to damage or destruction of a home.  
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Life Insurance   Provides coverage after the insured person's death, often paid out to a family member left behind (beneficiary)  
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Health Insurance   Pays for hospital and medical treatment.  
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Disability Insurance   Provides a monthly income when one becomes disabled (unable to work).  
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Automobile Insurance   Provides coverage(money) for car accidents and damage to the owner's car.  
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Title Insurance   Ensures that the property you are buying is free of any loans and the Title is available for purchase.  
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Social Insurance   Protection for a person against economic/financial hazards such as unemployment, old age, or disability  
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Medicare   A government program of medical care for the older people.  
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Social Security   A program under the US government that provides retirement income, health care, for the aged, and disability coverage  
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Worker's Compensation Insurance   This is it protect workers who are injured on the job.  
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Malpractice Insurance   Insurance purchased by doctors and hospitals to cover the cost of being sued for malpractice (mistakes)  
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Title   A formal document, such as a deed, that serves as evidence of ownership  
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Contract   An agreement between two or more partiesthe; written form of an agreement  
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Comprehensive   Complete; including all or nearly all elements or aspects of something  
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Malpractice   Careless, wrong, or illegal actions by someone (such as a doctor) who is performing a professional duty  
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