Shared Flashcard Set

Details

insurance
insurance
24
Finance
10th Grade
05/17/2012

Additional Finance Flashcards

 


 

Cards

Term
Risk
Definition

 

a measure of likelihood that something will be lost.

Term
risk managment
Definition
the process of measuring risk and finding ways to minimize or mange loss
Term
Dependent
Definition
an individual who relies on someone else for fincial support, such as a child, a spouse, or an elderly parent.
Term
policy holder
Definition
when you by insuance policy yuo become one
Term
premium
Definition
the insurance company on a regular basis.
Term
deductiable
Definition
the amount you must pay monthly before insurance begins to pay.
Term
fee-for-service plans
Definition
pay for covered medical services after treament is provided.
Term
coinsurance
Definition
a percanatge of the service cost that patients pay.
Term
inpatient
Definition
a person whose care requires a stay in a hospital
Term
managed care plans
Definition
contract with specific doctors, hospitals, and other health care providers to deiver medical services and preventive care to members at reduced cost
Term
co-payment
Definition
a flat fee that the patient must pay for medical services.
Term
HSA
Definition
a tax-advantage savings account avialbe to people enrolled in qualifed  ance begins to pay.
Term
Exclusions
Definition
refers to medical services that are not covred
Term
preexisting condition
Definition
anillness or an injury you had before signing up for health care insuance
Term
benficiary
Definition
a person or organization maned by the policyholder to receive assets after the policyholders death.
Term
term life insurance
Definition
provides protection only for specific period of time.
Term
whole life insurance
Definition
provides basic lifetime protection so long as preminums are paid.
Term
Endowment
Definition
pays the face vaule of the policy to benficalries if the insured dies before the endowment period ends.
Term
Apprasial
Definition
an estimate of current vaule of property.
Term
depreciation
Definition
a decrease in the value of property as result of age or wear and tear
Term
bodily injury liabilty
Definition
coverage that protects you when you are responsible for an auto accident that results the injry or death of other parties
Term
property  damage laibilty
Definition
protects you when you are you are responsible for an auto accident in whicj the property of others is damaged.
Term
no-fault auto insurance elminates the faultfinding process in setting claims.
Definition
Supporting users have an ad free experience!