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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 individual who relies on someone else for financial support, such as a child, spouse, or an elderly parent |
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Term
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Definition
| A person who owns an insurance policy |
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Term
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Definition
| Amount of money paid to an insurance company for a policy on a regular basis |
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Term
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Definition
| The amount you must pay before insurance begins to pay |
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Definition
| Pays for covered medical services after treatment is provided |
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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 the hospital |
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Term
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Definition
| A health care plan that contracts with specific doctors and other health care providers, hospitals, and clinics to provide a range of medical services and preventive care to members of the plan 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 Account(HSA) |
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Definition
| A tax-advantaged savings account available to people enrolled in qualified High Deductible Health Plans(HDHP) |
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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 recieve 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 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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