Insurance

What is coverage?

• An agreement in which a person makes regular payments to a company and the company promises to pay money if the person is injured or dies, or to pay money equal to the value of something (such as a house or car) if it is damaged, lost, or stolen
• An amount of money that you have to pay for something (such as having your car fixed after an accident) before an insurance company pays for the remainder of the cost
• The financial protection that is provided by an insurance policy
• An amount of money that you have to pay for something (such as having your car fixed after an accident) before an insurance company pays for the remainder of the cost

What is a deductible?

• An amount of money that you have to pay for something (such as having your car fixed after an accident) before an insurance company pays for the remainder of the cost
• pays a percentage of your salary if you become temporarily disabled, meaning that you are not able to work for a short period of time due to sickness or injury
• a type of insurance coverage that pays for medical and surgical expenses incurred by the insured
• An agreement in which a person makes regular payments to a company and the company promises to pay money if the person is injured or dies, or to pay money equal to the value of something (such as a house or car) if it is damaged, lost, or stolen

What is Insurance?

• Protects you from claims of bodily injury, associated medical costs & damage to property
• provides coverage for bodily injury and property damage sustained by others for which you or covered residents of your household are legally responsible
• The financial protection that is provided by an insurance policy
• An agreement in which a person makes regular payments to a company and the company promises to pay money if the person is injured or dies, or to pay money equal to the value of something (such as a house or car) if it is damaged, lost, or stolen

What is Liability?

• The financial protection that is provided by an insurance policy
• Protects you from claims of bodily injury, associated medical costs & damage to property
• a type of insurance coverage that pays for medical and surgical expenses incurred by the insured
• The amount paid for insurance

What is a Premium?

• provides coverage for bodily injury and property damage sustained by others for which you or covered residents of your household are legally responsible
• Protects you from claims of bodily injury, associated medical costs & damage to property
• The amount paid for insurance
• The financial protection that is provided by an insurance policy

What is short-term disability?

• pays a percentage of your salary if you become temporarily disabled, meaning that you are not able to work for a short period of time due to sickness or injury
• insurance pays a percentage of your salary, usually 50 to 60 percent, depending on the policy. The benefits last until you can go back to work or for the number of years stated in the policy
• offers income protection to individuals who become disabled for a long period of time, and as a result can no longer work during that time period
• provides coverage for bodily injury and property damage sustained by others for which you or covered residents of your household are legally responsible

What is Whole Life Insurance?

• s a permanent life insurance policy with an investment component
• is type of flexible permanent life insurance offering the low-cost protection of term life insurance as well as a savings element (like whole life insurance), which is invested to provide a cash value buildup
• insurance that pays a benefit on the death of the insured and also accumulates a cash value
• life insurance that pays a benefit in the event of the death of the insured during a specified term

What is a HMO (Health Maintenance Organization)?

• a type of managed care plan, participants designate an in-network physician to be their primary care provider, patients may go outside of the provider network for health care services
• subscribers pay a predetermined fee in return for a range of medical services from physicians and healthcare workers registered with the organization
• offers a network of healthcare providers you can use for your medical care. These providers have agreed to provide care to the plan members at a certain rate.
• A method in which doctors and other health care providers are paid for each service performed.

What is Renter's Insurance?

• property insurance that provides coverage for a policyholder's belongings, liabilities and possibly living expenses in case of a loss event
• provides coverage for bodily injury and property damage sustained by others for which you or covered residents of your household are legally responsible
• a coverage that helps pay to replace or repair your vehicle if it's stolen or damaged in an incident that's not a collision
• The financial protection that is provided by an insurance policy

What is FFS (Fee for Service)?

• subscribers pay a predetermined fee in return for a range of medical services from physicians and healthcare workers registered with the organization
• a type of managed care plan, participants designate an in-network physician to be their primary care provider, patients may go outside of the provider network for health care services
• offers a network of healthcare providers you can use for your medical care. These providers have agreed to provide care to the plan members at a certain rate.
• A method in which doctors and other health care providers are paid for each service performed.