Term
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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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Term
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Definition
| an individual who relies on someone else for financial support |
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Term
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Definition
| When you pay insurance you become a policy holder |
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Term
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Definition
| a set amount of money paid to the insurance company on a regular basis |
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Term
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Definition
| amount of money you must pay before insurance begins to pay |
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Term
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Definition
| cover medical services after treatment is provided |
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Term
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Definition
| a percentage of the service cost that patients pay |
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Term
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Definition
| A person whose care requires a stay in a hospital |
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Term
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Definition
| Contract with specific doctors, hospitals, and other health care providers to deliver medical services and preventive care to members at reuced 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's) |
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Term
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Definition
| Refers to medical signing up for health care insurance |
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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 receive assets after the policy'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 befopre 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
| eliminates the faultfinding process in settling claims |
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