Basic Insurance Terms

A written contract ratifying the legality of an insurance agreement.

• co-insurance

• policy

• premium

A person or persons covered by insurance

• beneficiary

• premium

• insured

Provides you financial protection or reimbursement from an insurance company

• insurance

• claim

• co-insurance

The amount of money you pay monthly to an insurance company

• claim

• out-of-pocket

• premium

The amount of money you must pay at each appointment before the health plan will pay out anything

• co-pay

• premium

• claim

A request made by the insured for the insurance to pay what is covered under the policy agreement.

• co-pay

• in-network

• claim

A provider, doctor, facility, or service that is on the insurance list and will save you money

• out-of-network provider

• insurance

• in-network provider

A provider, doctor, facility, or service that is NOT on the insurance list; will NOT save you money

• out-of-network provider

• insurance

• in-network provider

The purpose of insurance is to help you pay less out of pocket and protect you finacially

• True

• False

Click all that you can get insurance on

• Car

• Dental

• House

• Mustache