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Chapter 10
Vocabulary
23
Business
12th Grade
12/10/2012

Additional Business Flashcards

 


 

Cards

Term
Risk
Definition
is a measure of the likelihood that something will be lost.
Term
Risk management
Definition
is the process of measuring risk and finding ways to minimize or manage loss.
Term
Dependent
Definition
is a individual who relies on someone else for financial support,such as a child, a spouse, or an elderly parent.
Term
Policyholder
Definition
when you buy an insurance policy
Term
Premium
Definition
to the insurance company on regular basis.
Term
deducible
Definition
is the amount you must pay before insurance begins to pay.
Term
free-for-service plans
Definition
pay for covered medical services after treatment is provided.
Term
Coinsurance
Definition
a % of service cost that patients pay.
Term
inpatient
Definition
a person whose care requires a stay in a hospital.
Term
Managed care plans
Definition
cantract with specific doctors, hospital, and other health care providers to deliver medical services and preventive care members at reduced cost.
Term
Co-payment
Definition
is a flat fee patient must pay for medical services.
Term
HSA
Definition
Is a tax-advantaged savings account available to people enrolled in qualified high deductible health plans.
Term
Exclusion
Definition
refer to medical services that are not covered
Term
preexisting condition
Definition
is an illness or an injury you had before signing up for health care insurance.
Term
beneficiary
Definition
is a person or organization named by the policyholder to receive assets after the policy holder's death.
Term
Term life insurance
Definition
provides protection only for a specific period of time.
Term
whole life insurance
Definition
provides basic lifetime protection so long as premiums are paid.
Term
Endowment insurance
Definition
pays the face value of the policy to beneficiaries if the insured dies before the endowment period ends.
Term
appraisal
Definition
an estimate of the current value of property.
Term
Depreciation
Definition
is a decreasein the value of the property as a result of age or wear and tear.
Term
Bodily injury liability
Definition
is coverage thats protects you when you are responible for auto accident that results in the injury or death of other parties.
Term
Property damaged liability
Definition
is coverage thats protects you when you are responible for auto accident in which the property of others is damaged.
Term
No-fault auto insurance
Definition
Eliminates the faultfinding process in settling claims.
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