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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 | will reimburse the insured for any damage sustained to their personal automobile that is due to the fault of the insured driver. |
| Comprehensive Coverage | an optional car insurance coverage designed to pay for certain repairs that aren't related to collisions. |
| Co-Payments | a payment made by a beneficiary (especially for health services) in addition to that made by an insurer. |
| Death Benefit | the amount paid to a beneficiary upon the death of an insured person. |
| Deductible | able to be deducted, especially from taxable income or tax to be paid. |
| Dental Insurance | designed to pay a portion of the costs associated with dental care. |
| Disability Insurance | A program managed by the Social Security 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 | an organization that provides health coverage with providers under contract |
| HRA | an employer-sponsored plan that can be used to reimburse a portion of you and your eligible family member's out-of-pocket medical expenses |
| Liability Coverage | It protects the insured in the event he or she is sued for claims that come within the coverage of the insurance policy. |
| Living Benefits | A rider that provides long-term care benefits for an insured person who is terminally ill, when attached to a life insurance contract |
| Medicare | the federal health insurance program for people who are 65 or older, certain younger people with disabilities |
| 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 |
| Term Life Insurance | life insurance that pays a benefit in the event of the death of the insured during a specified term |
| 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 | life insurance that pays a benefit on the death of the insured and also accumulates a cash value. |
Created by:
Ndawley19
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