Term
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Definition
| Provides payments for both liability and property insurance on a vehicle. |
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Term
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Definition
| Someone who receives insurance money if the insured person dies. |
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Term
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Definition
| The paperwork describing the accident, illness or injury that is submitted to the insurance organization. |
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Term
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Definition
| An amount of money, after the deductible, that is paid for jointly by the insured and the insurance company. |
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Term
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Definition
| The risks covered and amount of money paid for losses under an insurance policy. |
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Term
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Definition
| The amount paid out of pocket by the policyholder for the initial portion of a loss before the insurance coverage begins. |
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Term
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Definition
| Someone who relies on someone else for money and care |
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Term
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Definition
| Provides payment to replace earnings during times when workers cannot work due to illness or injury |
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Term
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Definition
| Cash set aside that can be used to cover the costs of unexpected events |
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Term
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Definition
| Products or services provided by an employer that adds extra value for employees beyond wages paid |
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Term
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Definition
Provides money to pay for health care for illness, injury, or, in some cases,
preventive care |
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Term
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Definition
| Provides payment to cover liability losses as well as damage and loss of the home and its contents |
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Term
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Definition
Doing something in the home without pay that takes raw materials along with a
family member’s skill, experience, knowledge, and household equipment, to
produce a useful product or service |
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Term
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Definition
| The provision of a product or service rather than cash |
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Term
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Definition
A product that transfers risk from an individual to an insurance company or
organization |
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Term
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Definition
Provides payment to others if a member of the insured household accidently
causes harm to other people or property |
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Term
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Definition
| Provides payment to beneficiaries if an insured person dies |
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Term
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Definition
| Provides payment for extended care due to accidents, illness, or old age |
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Term
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Definition
| When the act of insuring an event increases the likelihood that the event will happen |
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Term
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Definition
| An insurance contract that states what risks are covered and how much money will be paid for losses |
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Term
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Definition
| A person who owns the policy |
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Term
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Definition
| The money paid to an insurance company to purchase a policy |
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Term
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Definition
| Provides payment to the insured person if property is damaged or destroyed by an accident |
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Term
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Definition
| Provides payment to renters to cover the damage and loss of property in a rental unit in addition to liability losses |
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Term
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Definition
| The chance of loss from an event that cannot be entirely controlled |
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