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Definition
| a measure of the likelihood that something will be lost |
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| the 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 help |
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| you pay a set amount of money |
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| is 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 percentage of the service cost that patients pay |
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| is a person whose care requires a stay in a hospital |
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| contract with specific doctors, hospitals, and other health care |
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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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| refers to medical services that are not covered |
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| an illness or an injury you had before signing up for health care insurance |
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| A person or organization named by the policyholder to recieves assets the policyholder's death |
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| provides protection only for a specific period of time |
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| Provides basic lifetime protection so long as preminums 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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| An estimate of the current value of property |
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| A decrease in the value of property as a result of age or wear and tear |
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| 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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| 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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Definition
| eliminates the faultfinding process in settling claims |
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