a risk with a possibility of loss but no possibility of gain.

______________ is the amount the insured pays for insurance coverage.

____________ is the amount the insured is responsible for paying when a claim is made.

_________ is the process of documenting a loss against an insurance policy.

is a contract that defines the type of losses that are covered, amount of coverage in dollars, and other conditions to which the two parties agree.

the state of being responsible for something, especially by law.

a decrease in the value of property as a result of age or wear and tear.

insures the policyholder against financial loss due to damage to or loss of a dwelling and personal property and possessions.

insurance protects a homeowner if others are injured on the policyholder’s property.

the amount of money or other services to which you are entitled under the terms of your insurance policy.

covers loss amounts that are higher than those covered by primary policies.

medical service that is not covered in an insurance plan.

a percentage of the service costs that patients pay after the annual deductible is met.

a flat fee the patient must pay for medical services.

pays for covered medical services after treatment is provided, usually on a fee-for-service basis.

penalty paid by those who do not purchase health insurance.

an insurance company’s examination of requests for medical treatments and procedures to make sure they are covered and the patient truly needs them.

a person or group who receives a deceased person’s assets.

Which of the following is NOT an option with risk?