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Chapter 10
NA
23
Other
11th Grade
05/14/2012

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Cards

Term
risk
Definition
a measure of the likelihood that something will be lost
Term
risk management
Definition
is the purpose of measuring risk and finding ways to minimize or manage loss.
Term
depend
Definition
an individual who relies on someone else for financial support
Term
policyholder
Definition
buy an insurance policy
Term
premium
Definition
to the insurance company or regular basis
Term
deductiable
Definition
the amount you must pay before insurance beings to pay
Term
fee-for-service plans
Definition
pay for covered medical services after treatment is provided
Term
coinsurance
Definition
a percentage of the services costs that patients pay
Term
impatient
Definition
a person whose care require a stay in a hospitial
Term
managed care plan
Definition
contract with specific doctor
Term
co payment
Definition
a flat free patient must pay for medical services
Term
HSA
Definition
a tax advantaged savings account available
Term
exclusions
Definition
medical services that are not covered
Term
preexisting conditions
Definition
an illness or an injury you had before signing up for health care insurance .
Term
beneficiay
Definition
a person or organization named by the policyholder to receive assets after the policyholders death
Term
term life insurance
Definition
provides protection only for a specific period of time
Term
whole life insurance
Definition
provides basic lifetime protection so long as premiums
Term
endowment insurance
Definition
pays the face value of the policy to beneficiaries if the insured dies before the endowment 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
bodily injury liability
Definition
coverage that protects you when you are responsible for an auto accident that results in the injury
Term
property damaged liablility
Definition
protects you when you are responsible for an auto accident in which the property of others is damaged .
Term
no fault auto insurance
Definition
eliminates the faultfinding process in setting claims.
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