7 insuring your health and your life

insurance:

• A financial product that when purchased provides reimbursement paid to a person in the event of certain types of financial loss.

• A financial product that provides payment for medical services when people suffer a financial loss as a result of illness or injury

• Regular payments paid to an insurance company in return for insurance coverage.

health insurance:

• A financial product that when purchased provides reimbursement paid to a person in the event of certain types of financial loss.

• A financial product that provides payment for medical services when people suffer a financial loss as a result of illness or injury

• Regular payments paid to an insurance company in return for insurance coverage.

premium

• A financial product that when purchased provides reimbursement paid to a person in the event of certain types of financial loss.

• A financial product that provides payment for medical services when people suffer a financial loss as a result of illness or injury

• Regular payments paid to an insurance company in return for insurance coverage.

liability

• any time you owe someone money

• A financial product that provides payment for medical services when people suffer a financial loss as a result of illness or injury

• Regular payments paid to an insurance company in return for insurance coverage.

Medicare

• a government sponsored health insurance plan that is funded largely by taxes that most working people pay. It provides benefits to individuals who are at least age 65 and qualify for Social Security, or to individuals who are disabled.

• A financial product that provides payment for medical services when people suffer a financial loss as a result of illness or injury

• Regular payments paid to an insurance company in return for insurance coverage.

Medicaid

• a government sponsored health insurance plan that is funded largely by taxes that most working people pay. It provides benefits to individuals who are at least age 65 and qualify for Social Security, or to individuals who are disabled.

• a government-sponsored program that provides health insurance for low-income individuals. The program is administered on a state-by-state basis, so eligibility may differ for people from different states. The coverage is designed for the elderly, blind, disabled, and needy families with dependent children

• Regular payments paid to an insurance company in return for insurance coverage.

Why is health insurance a critical part of your financial plan?

• a government sponsored health insurance plan that is funded largely by taxes that most working people pay. It provides benefits to individuals who are at least age 65 and qualify for Social Security, or to individuals who are disabled.

• a government-sponsored program that provides health insurance for low-income individuals. The program is administered on a state-by-state basis, so eligibility may differ for people from different states. The coverage is designed for the elderly, blind, disabled, and needy families with dependent children

• People without health insurance could find all of their net worth quickly eliminated with one major health problem

policyholder

• a government sponsored health insurance plan that is funded largely by taxes that most working people pay. It provides benefits to individuals who are at least age 65 and qualify for Social Security, or to individuals who are disabled.

• a government-sponsored program that provides health insurance for low-income individuals. The program is administered on a state-by-state basis, so eligibility may differ for people from different states. The coverage is designed for the elderly, blind, disabled, and needy families with dependent children

• The person who buys a health insurance policy or subscribes to it through an employer

group plans:

• Insurance plans that cover a large group of individuals, such as all the employees of a particular company or local government.

• Health conditions that existed before one’s insurance policy was granted.

• The amount of money a policyholder pays prior to the insurance company’s payment.

preexisting conditions:

• Insurance plans that cover a large group of individuals, such as all the employees of a particular company or local government.

• Health conditions that existed before one’s insurance policy was granted.

• The amount of money a policyholder pays prior to the insurance company’s payment.