Create an account
is an agreement whereby companies collect fees or "premiums" from individuals or companies on a regular basis
Accidental Death and Dismemberment Insurance
pays a benefit to the beneficiary in the event of the insured person's death by accidental means
covers and employee's salary, or a percentage of it, while the employee is on disability leave
covers medical and hospital services. Such policies are sold as individual or group policies
the Federal Health Insurance Benefit Plan for the Aged and Disabled under Title XVIII of Public Law 89-97 of the Social Security Act
a medical and disability reimbursement program that provides 100% medical coverage and a scheduled weekly disability benefit for job-related injuries
Third Party Administrator
professional firm that is under contract to deal solely with administering the eligibility and claim payment services for self-funded benefit plans
responsible for ensuring that the company's operation are conducted on a mathematically sound basis
New Business Department
processes new business acquired by the company and Department also schedules physical examination for policies that require evidence of insurability
responsible for making sure that the premium rates are accurate and that claim payments do not exceed the amount assumed when the premium rates were calculated
maintains the records to show if the company is being run in a profitable manner
makes sure that the company's operations comply with federal, state, and local laws and with the Department of Insurance regulations
are designed to compensate an insured for all of the actual losses or damages to make that person whole again
often the larger of the two awards and are intended primarily to punish wrongdoing by the defendant and make an example of them to help deter such actions in the future
as intentional conduct to cause injury or conduct that is carried on with the conscious disregard of the rights of others
Bad Faith Awards
The dollar amount based on two concepts: (1) the degree of wrongfulness and (2) the wealth of the defendant
an employer or individual purchases an insurance plan and agrees to pay premiums to the insurance company
the ability to transfer insurance companies and still be covered for pre-exisiting conditions
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