Term
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Definition
| Is a measure of the likelihood that something will be lost. |
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Term
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Definition
| Is the process of measuring risk and finding ways to minimize or manage loss. |
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Term
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Definition
| Is an individual who relies on someone else for financial support. |
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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
| Is the amount you must pay before insurance begins to pay. |
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Term
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Definition
| Pay for covered medical services after treatment is provided. |
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Term
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Definition
| Is a percentage of the service cost that patients pay. |
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Term
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Definition
| Is 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 reduced cost. |
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Term
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Definition
| Is a flat fee the patient must pay for medical services. |
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Term
| Health savings account (HSA) |
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Definition
| Is a tax-advantaged savings account available to people enrolled in qualified High Deductible Health Plans (HDHPs). |
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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
| Is an illness or an injury you had before signing up for health care insurance. |
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Term
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Definition
| Is 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
| Is an estimate of the current value of property. |
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Term
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Definition
| Is 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
| Is 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 the 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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