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Details Title: vocab Description: vacab Total Flash Cards: 11 Created: 01/12/2007 06:10:53	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term Agent Definition A person who sells insurance policies Term Beneficiary Definition The person, persons or entity designated to receive the death bewnefits from a life insurance policy or annuity contract Term Collision Coverage Definition Pays for damage to your car without regard to who caused an accident. The company must pay for the repair or up to the actual cash value of your vehicle, minus your deductible Term Deductible Definition The amount the unsured must pay in a loss before any payment is due from the company Term Effective Date Definition The date on which an insurance policy becomes effective. Term Health Maintenance Organization(HMO) Definition Prepaid group health insurance plan which entitles memebers to services of participation physicians, hospitals and clinics Emphasis is on preventative medicine. Term Liability Definition Responsibility to another for one;s negligence Term Loss Definition The amount an insurance company pays on a claim Term Premium Definition The price of the insurance policy that the unsured pays in exchange for insurance coverage Term Quote Definition A statement of the premium that will be charged for insurance coverages based on specific information provided by the person requestiong the quote including drivers, vehicles,and driving record Term Rider Definition A written agreement attached to the policy expanding or limiting the benefits otherwise payable under the policy. Same as an endorsement