Term
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Definition
| A measure of the likelihood that something will be lost. |
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Term
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Definition
| The process of measuring risk and finding ways to minimize or manage loss. |
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Term
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Definition
| An individual who relies on someone else for financial support. |
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Definition
| When buying an insurace policy. |
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Term
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Definition
| Set amount of money payed, |
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Term
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Definition
| The amount you must pay before insurance begins to pay. |
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Term
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Definition
| Pays for covered medical services after treatment is provided. |
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Term
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Definition
| A percentage of the service cost that patients pay. |
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Term
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Definition
| A person whose care requires a stay in a hospital. |
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Term
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Definition
| Contract with specific doctors, hospitals, and otehr health care providers to deliver medical services and preventive care to members at reduced cost. |
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Term
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Definition
| A flat fee the patient must pay for medical services. |
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Term
| Health savings acount (HSA) |
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Definition
| A tax-advantaged savings account available to people enrolled in qualified High Deductible Health Plans. (HDHPs) |
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Term
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Definition
| refer to medical services that are not covered. |
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Term
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Definition
| An illness or an injury you had before signing up for health care insurace. |
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Term
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Definition
| A person or organization named by the policyholder to receive assets after the policyholder's death. |
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Term
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Definition
| Provides protection only for a specific period of time. |
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Term
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Definition
| Provides basic lifetime protection so long as premiums are paid. |
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Term
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Definition
| Pays the face value of the policy to beneficiaries if the insured dies before the endowment period ends. |
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Term
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Definition
| An estimate of the current value of property. |
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Term
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Definition
| A decrease in the value of property as a result of age or wear and tear. |
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Term
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Definition
| Coverage that protects you when you are responsible for an auto accident that results in the injury or death of other parties. |
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Term
| Property damage liability |
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Definition
| Protects you when you are responsible for an auto accident in which the property of others is damaged. |
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Term
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Definition
| Eliminates the faultfinding process in settling claims. |
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