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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 | Collision Insurance will reimburse the insured for any damage sustained to their personal automobile that is due to the fault of the insured driver. |
| Comprehensive Coverage | Comprehensive coverage is available to protect you against vehicle damages not caused by a collision. |
| 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 | a specified amount of money that the insured must pay before an insurance company will pay a claim |
| Dental insurance | Dental Insurance is an insurance coverage for individuals to protect them against dental costs |
| Disability insurance | Disability Insurance' A program managed by the Social Security Administration that insures a worker in case of a mishap. |
| Effective Date | An effective date or as of date is the date upon which something is considered to take effect, which may be a past, present or future date. |
| HMO | short for health maintenance organization. |
| HRA | A health reimbursement account (HRA) consists of employer-funded plans that reimburse employees for incurred medical expenses that are not covered by the company's standard insurance plan |
| Liability coverage | Liability insurance is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims. |
| 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 | Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease |
| 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 physicians | A primary care physician is 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, not limited by cause, organ system, or diagnosis. |
| term life insurance | life insurance that pays a benefit in the event of the death of the insured during a specified term. Compare with whole life insurance |
| vision insurance | 'Vision Care 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:
cprosneick17
Popular Insurance sets