Term
|
Definition
| A person who sells insurance policies |
|
|
Term
|
Definition
| The person, persons or entity designated to receive the death bewnefits from a life insurance policy or annuity contract |
|
|
Term
|
Definition
| Pays for damage to your car without regard to who caused an accident. The company must pay for the repair or up to the actual cash value of your vehicle, minus your deductible |
|
|
Term
|
Definition
| The amount the unsured must pay in a loss before any payment is due from the company |
|
|
Term
|
Definition
| The date on which an insurance policy becomes effective. |
|
|
Term
| Health Maintenance Organization(HMO) |
|
Definition
| Prepaid group health insurance plan which entitles memebers to services of participation physicians, hospitals and clinics Emphasis is on preventative medicine. |
|
|
Term
|
Definition
| Responsibility to another for one;s negligence |
|
|
Term
|
Definition
| The amount an insurance company pays on a claim |
|
|
Term
|
Definition
| The price of the insurance policy that the unsured pays in exchange for insurance coverage |
|
|
Term
|
Definition
| A statement of the premium that will be charged for insurance coverages based on specific information provided by the person requestiong the quote including drivers, vehicles,and driving record |
|
|
Term
|
Definition
| A written agreement attached to the policy expanding or limiting the benefits otherwise payable under the policy. Same as an endorsement |
|
|
