Shared Flashcard Set

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Vocabulary
na
23
Business
10th Grade
12/06/2012

Additional Business Flashcards

 


 

Cards

Term
risk
Definition
is a measure of the likelihodd that something will be lost.
Term
risk management
Definition
is the process of measuring risk and findign ways to minimize or manage loss
Term
dependent
Definition
is an individual who relies on someone else for financial support , such as a child , a spouse , or an elderly person.
Term
policyholder
Definition
when you buy an insurance policy
Term
deductible
Definition
is the amount you must pay before insurance begins to pay
Term
fee-for-service plans
Definition
pay for covered medical services after treat;ment is provided
Term
coinsurance
Definition
is a percentage of th eservice cost that patients pay.
Term
impatient
Definition
is a person whose care requires a stay in a hospital.
Term
managed care plans
Definition
contract with specific doctors, hospitals and other health care providers to deliver medical services and preventive care to member at reduced cost.
Term
co-payment
Definition
is a flat fee th epatient must pay for medical services.
Term
health savings account
Definition
is a taxed-advantage savings account availabl to people enrolled in qualified High Deducible Health Plans.
Term
Exclusions
Definition
refer to medical services that are not covered.
Term
preexisting condition
Definition
is an illness or an injury you had before signing up for health care insurance.
Term
beneficiary
Definition
is a person or organization named by th epolicyholder to recieve assets after the policyholders death.
Term
Term Life Insurance
Definition
provides protection only for a specific period of time
Term
whole life insurance
Definition
provides basic lifetime protecgion so long as premiums are paid
Term
endowment insurance
Definition
pays the face value of the policy to beneficiaries if th einsured dies before th eendowment periods ends.
Term
appraisal
Definition
is an estimate of th ecurent value of property
Term
depreciation
Definition
- is a decrease in th evalue of property as a reslut of age or wear and tear
Term
bodily injury liability
Definition
is coverage that protects you wehn you are respnsible for an auto accident that results in the injury or death of other parites
Term
property damage liability
Definition
protects you when you are respnsible for an auto accident in which the property of others is damaged
Term
No-Fault insurance
Definition
eliminates the faultfinding process in settiling claims.
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