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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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Definition
| an indivdual who relies on someone else for financial support, such as a child, a spouse, or an elderly parent |
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Term
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Definition
| when you buy an insurance policy |
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Term
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Definition
| when you pay a set amount of money |
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Term
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Definition
| the amount you must pay before insurance begins yo pay |
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Term
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Definition
| pay 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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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 other health care providers to deliver medical services and preventive care to members at reduced cost |
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Definition
| a flat fee the patient must pay for medical services |
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Term
| health savings account (HSA) |
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Definition
| a tax-advantaged savings account available to people enrolled in qualified high deductible health plan |
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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 insurance |
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Term
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Definition
| a person or organization named by the policyholder to receive assets after the policyholders 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
| is coverage that protects you when you are responsible for an auto accident that results in the injury or death of the 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 the others is damaged |
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Term
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Definition
| eliminates the faultfinding process in settling claims |
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