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Insurance

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Question
Answer
Beneficiary   a person who derives advantages from something, especially a trust, will or life insurance policy.  
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Broker   a person who buys and sells goods or assets for others.  
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Claim   a formal request to an insurance company asking for a payment based on the terms of the insurance policy.  
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Collision Coverage   if your car is damaged in an accident, the coverage will typically pay to fix or replace it.  
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Comprehensive coverage   your insurance company pays for damage to your auto caused by an event other than a collision.  
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Co- payments   a payment made by a beneficiary in addition to that made by an insurer.  
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death benefits   a spouse who was living with the deceased person at the time of death.  
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deductible   Able to be deducted, when it comes to taxable income or tax to be paid.  
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dental insurance   insurance coverage for individuals to protect them against dental costs.  
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disability insurance   income protections to individuals who become disabled for a long period of time.  
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effective date   the date which something is considered to take effect.  
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HMO   Short for health maintenance organization  
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HRA   Short for Human resources administration  
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liability coverage   protection if you're at a fault for an accident and you hurt someone or someone's property.  
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living benefits   a rider that provides long- term care benefits for an insured person who is terminally ill.  
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medicare   federal health insurance program for people who are older than 65 or older.  
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power of attorney   the authority to act for another person in specified or all legal or financial matters.  
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premiums   an amount to be paid for an insurance policy.  
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primary physician   primary care which provides both the first contact for a person with an un diagnosed health concern.  
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term life insurance   insurance that pays a benefit in the event of the death of the insured during a specified term.  
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vision insurance   insurance designed to help you cover and budget for ongoing vision care expenses.  
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whole life insurance   insurance policy which is guaranteed to remain in force for the insured's entire life time.  
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Created by: jeik17
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