Shared Flashcard Set

Details

insurance
flashcard
23
Finance
10th Grade
05/14/2012

Additional Finance Flashcards

 


 

Cards

Term
risk
Definition
is a measure of the likelihood thst something will be lost
Term
risk management
Definition
th process of measuring risk and finding ways to minimize or manage loss
Term
dependet
Definition
is an individualwho relies on someone else for financial support
Term
policyholder
Definition
when you get a policy this is what you become
Term
premium
Definition
a set amount of money you pay
Term
deductible
Definition
the amount you must pay before insurance begins to pay
Term
fee-for-service plans
Definition
pay for covered medical services after treatment is provided
Term
coinsurance
Definition
the percentage of the service cost that patients pay
Term
inpatient
Definition
a person who cant wait
Term
managed care plans
Definition
contract with specific doctors, hospitals and other health care stuff
Term
co-payment
Definition
a flat fee that a paitient must pay for medical services
Term
hsa
Definition
a tax advantage savings account available
Term
exclusions
Definition
refer to medical preexistingconditions
Term
preexisting condition
Definition
an illness or an injury you hasd before signing up for health care insurance
Term
beneficiary
Definition
a person or orginization named by the policyholder
Term
term life insurance
Definition
provides preotection 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 insured dies before the endowent period ends
Term
appraisal
Definition
an estimate of the current value of property
Term
depreciation
Definition
a decrease in the value of property as a result of age or wear and tear
Term
body injury liability
Definition
coverage that protects you when you are reponsible for an auto accident that results in the injuryor deathof other parties
Term
property damage liability
Definition
protects you when your are responsible for an auto accident
Term
no-fault auto insurance
Definition
eliminates that faultfinding process in setting or her own insurance company
Supporting users have an ad free experience!