The possibility that an unfavorable situation could happen to you or something you own.
Protection you purchase against financial loss.
Pays for damage to your car from an accident.
Pays for damage unrelated to a collision.
Protects those you may injure or whose property you may damage.
The amount you will pay before your insurance company pays a claim.
Amount you pay for the insurance.
Underinsured Motorist Coverage
Covers your medical expenses if the person who caused the accident does not have insurance or does not have enough coverage or if you are a victim of a hit and run.
Covers a house and its contents.
Covers losses above the limits of your other policies.
Covers you for theft or damage to the contents of your apartment.
Protection against financial loss due to illnesses or injuries.
This act requiries that you be allowed to continue health care provided through your employer after you have been laid off or have voluntarily left your job.
You mainly use doctors, hospitals and clinics within their network. You will have to pay full price for using providers not in the network.
You mainly use doctors, hospitals and clinics that have agreed to accept reduced rates within their network. You usually have a co-payment and can use providers that are not in the network but will pay more.
You select a primary care physician from a list of those in the network who supervises your care and refers you to specialists when needed.
Contributions to this medical savings account are used for medical expenses not covered by your insurance and are tax deductible. The money that is not used within a calendar year will be rolled over to the next year.
Contributions to this medical savings account are used for medical expenses not covered by your insurance and are tax deductible. You must use the money that is not used within a calendar year or lose it.
Pays a portion of your income if you are injured or ill and cannot work.
Provides benefits after your death to persons you have selected.
Also known as a death benefit. It is the amount payable upon your death.
A person you have named in your insurance policy to receive the benefits.
Term Life Insurance
A policy that provides coverage only for a specific period of time.
Permanent Life Insurance
A policy that lasts for the life of the individual. Also known as whole life.
Long-Term Care Insurance
A policy that pays if you are confined to a nursing home, an assisted-living facility or need in-home care.
Your net worth--the value of your assets minus your debts.
The process of arranging your financial affairs so that your wishes will be followed now and after your death.
A legal document that states who you want to receive your assets when you die.
The person who will manage your estate and be sure your wishes are carried out.
The legal term for not having a will.
A legal document that authorizes a trustee to manage your estate on your behalf.
A legal document stating your wishes for medical care if you are unable to make those decisions yourself.