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Definition
| a measure of the likelihood that something will be lost |
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| process of measuring risk and finding ways to minimize or manage loss |
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| is an individual who relies on someone else for financial support |
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Definition
| when you buy an insurance policy you become |
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Definition
| you pay a set amount of money to the insurance company on regular basis |
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Definition
| the amount you must pay before insurance begins to pay |
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Definition
| pay for covered medical services after treatment is provided |
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| a % of the service cost that patients pay |
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| person whose care requires a stay in a hospital |
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| contract with specific health care providers |
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| a flat fee the patient must pay for medical services |
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| a tax-advantaged savings account available to people enrolled in qualified HDHPs |
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| refer to medical services that are not covered |
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Definition
| an illness or an injury you had before singing up for health care insurance |
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| a person or organization named by the policyholder to revive assets after the policyholders death |
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Definition
| provides protection only for a specific period of time |
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| provides basic lifetime protection so long as premiums are paid |
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| pays the face value of the policy to beneficiaries if the insured dies before the endowment period ends |
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Definition
| an estimate of the current value of property |
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Definition
| a decrease in the value of property as a result of or wear and tear |
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Definition
| eliminates that faultfinding process in settling claims |
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