Term
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Definition
| a measure of the likelihood that something will be lost. |
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Term
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Definition
| the process of measuring risk and finding ways to minimize or manage loss. |
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Term
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Definition
| an individual who relies on someone else for financial support (such as a child), a spouse, or an elderly parent. |
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Term
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Definition
| the person who bought an insurance policy. |
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Term
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Definition
| a set amount of money paid to the insurance company on a regular basis. |
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Term
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Definition
| the amount you must pay before insurance begins to pay. |
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Term
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Definition
| pays for covered medical services after treatment is provided. |
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Term
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Definition
| a percentage of the service cost that a patient pays. |
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Term
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Definition
| a person whose care requires stay in the hospital. |
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Term
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Definition
| contracts 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
| a flat fee the patient must pay for medical services. |
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Term
| health savings account (HSA) |
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Definition
| a tax-advantaged savings account available to people enrolled in qualified high deductible health plans (HDHP) |
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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
| an illness or injury you had before signing up for health care insurance. |
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Term
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Definition
| a person or organization named by the policyholder to recieve assets after the policyholders 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
| an estimate of the current value of property. |
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Term
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Definition
| a decrease in the value of property as a result of age wear and tear. |
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Term
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Definition
| coverage that protects you when you are responsible for an auto accident theat 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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