Term
|
Definition
| A fee charged at the time of a sale, transfer or withdrawal from an annuity or a life insurance policy. |
|
|
Term
| Basic Hospital Expense Insurance |
|
Definition
| Coverage that provides benefits of room, board and miscellaneous hospital expenses for a certain number of days during a hospital stay. |
|
|
Term
|
Definition
| A ledger or proposal used in the sale of a life insurance policy that shows both guaranteed and non-guaranteed elements. |
|
|
Term
| Basic Medical Expense Insurance |
|
Definition
| Coverage for doctor visits, x-rays, lab tests, and emergency room visits; benefits, however, are limited to specified dollar amounts. |
|
|
Term
|
Definition
| The person who receives the proceeds from the policy when the insured dies. |
|
|
Term
|
Definition
| The length of time over which the insurance benefits will be paid for each illness, disability or hospital stay. |
|
|
Term
|
Definition
| A temporary contract that puts an insurance policy into force before the premium has been paid. |
|
|
Term
|
Definition
| The method of determining primary coverage for a dependent child, under which the plan of the parent whose birthday occurs first in the calendar year is designated a primary. |
|
|
Term
| Blanket Medical Insurance |
|
Definition
| A policy that provides benefits for all medical costs, including doctor visits, hospitalization, and drugs. |
|
|
Term
|
Definition
| An unfair trade practice in which one person refuses to do business with another until he or she agrees to certain conditions. |
|
|
Term
|
Definition
| An individual who represents an insured in the process of purchasing and negotiating a contract of insurance. |
|
|
Term
|
Definition
| A legal contract that determines what will be done with a business in the event that an owner dies or becomes disabled. |
|
|
Term
|
Definition
| A booklet that describes insurance policies and concepts, and provides general information to help an applicant make an informed decision. |
|
|
