Unit 3C Vocabulary Flashcards

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Uninsured Motorist Insurance

Back

 automobile insurance that covers any medical and repair bills if you get into an accident with another drive who doesn’t have insurance

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Maximum Out-Of-Pocket Expense

Back

The most that you’re required to pay toward medical costs, including deductibles, copayments, and coinsurance. Once this limit is reached, your health plan will cover 100% of the qualified expenses.

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Mutual Fund

Back

a mix of different investments, like stocks and bonds

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Premium

Back

The amount you pay (either monthly or yearly) in exchange for insurance coverage.

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Reinsurance

Back

Reinsurance

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Self-insured Plan

Back

An employer takes on most or all of the costs associated with a benefit plan and offers it to their employees.

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Stock

Back

a small piece of ownership in a company

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Bond

Back

a loan to a company or government which has a specific date when it gets paid back in full

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Beneficiary

Back

someone named to receive income from an insurance policy 

Front

Coinsurance

Back

The amount an individual pays for medical care after the insurance pays its part, usually represented by a percentage.