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Study sets matching "insurance"

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Study sets matching "insurance"

39 terms
Insurance
KEY CONCEPTS
insurance
insurance transaction
CONTRACT LAW
-transfers risk of loss from individual/business to insurance…
-solicitation... -negotiate... -sale (coming up with a contract)... -a…
KEY CONCEPTS
insurance
-transfers risk of loss from individual/business to insurance…
22 terms
Insurance
Actuarial Table
Actuary
Beneficiary
Benefits
a table of premium rates based on ages and life expectancies
a specialist in insurance calculations and statistics
a person named on an insurance policy to receive the benefits…
sums of money to be paid for specific types of losses under t…
Actuarial Table
a table of premium rates based on ages and life expectancies
Actuary
a specialist in insurance calculations and statistics
12 terms
Insurance
risk
risk pooling
premium
risk classification
The chance of loss
An underlying premise in insurance that allows individuals to…
The payment to the insurance company for insurance coverage.…
The system used by actuaries to group together people with si…
risk
The chance of loss
risk pooling
An underlying premise in insurance that allows individuals to…
20 terms
Insurance
Life Insurance
Health Insurance
Flood Insurance
Homeowner's Insurance
Pays money if someone dies- so they can take care of their fa…
Pays for your health care
Pays money to fix a home damaged in a flood
Pays money to fix a home you OWN if there are thieves, fires,…
Life Insurance
Pays money if someone dies- so they can take care of their fa…
Health Insurance
Pays for your health care
38 terms
Insurance
insurance broker
life insurance
underwriter
compensation - damages
pośrednik ubezpieczniowy
ubezpieczenie na życie
ubezpieczyciel, asekurator, gwarant - ten co oszacowuje ryzyko
odszkodowanie, świadczenie
insurance broker
pośrednik ubezpieczniowy
life insurance
ubezpieczenie na życie
10 terms
Insurance
life insurance
health insurance
flood insurance
homeowner's insurance
Pays money if someone dies- so they can take care of their fa…
Pays for your health care
Pays money to fix a home damaged in a flood
Pays money to fix a home you OWN if there are thieves, fires,…
life insurance
Pays money if someone dies- so they can take care of their fa…
health insurance
Pays for your health care
13 terms
Insurance
Auto Insurance
Beneficiary
Coverage
Deductible
A type of insurance that covers property damage or legal liab…
The individual or group of individuals named to receive the b…
Amount and type of protection provided under an insurance con…
The amount of the loss you pay when you file an insurance cla…
Auto Insurance
A type of insurance that covers property damage or legal liab…
Beneficiary
The individual or group of individuals named to receive the b…
20 terms
Insurance
Policy
Premium
Deductible
Policyholder
a contract between the individual and the insurer specifying…
fee paid to the insurer (payments)
amount paid out of pocket by you before an insurance coverage…
the consumer who purchased the policy
Policy
a contract between the individual and the insurer specifying…
Premium
fee paid to the insurer (payments)
38 terms
Insurance
Define the term Third-Party Reimbursem…
Define the term Point of Service?
Define the term Third Party Administra…
List and define the four parts of Medi…
Primary mechanism of payment for medical services in the U.S.…
Combination of HMO and PPO that is based on HMO model but all…
Administrative service that pays claims for self-insured grou…
A: Hospital portion - premium free at retirement to beneficia…
Define the term Third-Party Reimbursem…
Primary mechanism of payment for medical services in the U.S.…
Define the term Point of Service?
Combination of HMO and PPO that is based on HMO model but all…
24 terms
Insurance
Risk
Emergency savings
Insurance
policy
chance of loss from an event that cannot be entirely controlled
at least six months of expenses set aside to cover costs of u…
a financial product purchased by many people facing a similar…
A contract between the insurance company and the insured that…
Risk
chance of loss from an event that cannot be entirely controlled
Emergency savings
at least six months of expenses set aside to cover costs of u…
11 terms
Insurance
Insurance
Policy
Premium
Deductible
A protection against possible financial loss.... Gives peace of…
An agreement between an insurance company and an individual/f…
A fee for insurance
A set amount the insured must pay per loss on an insurance po…
Insurance
A protection against possible financial loss.... Gives peace of…
Policy
An agreement between an insurance company and an individual/f…
14 terms
Insurance
Automobile Insurance
Beneficiary
Coverage
Dependents
A type of insurance that covered property damage or legal lia…
The individual or group of individuals named to receive the b…
The things that are protected in an insurance policy
The person who depend on someone for their livelihood. Most o…
Automobile Insurance
A type of insurance that covered property damage or legal lia…
Beneficiary
The individual or group of individuals named to receive the b…
24 terms
Insurance
Risk
Emergency savings
Insurance
policy
chance of loss from an event that cannot be entirely controlled
at least six months of expenses set aside to cover costs of u…
a financial product purchased by many people facing a similar…
A contract between the insurance company and the insured that…
Risk
chance of loss from an event that cannot be entirely controlled
Emergency savings
at least six months of expenses set aside to cover costs of u…
20 terms
Insurance
Life Insurance
Health Insurance
Flood Insurance
Homeowner's Insurance
Pays money if someone dies- so they can take care of their fa…
Pays for your health care
Pays money to fix a home damaged in a flood
Pays money to fix a home you OWN if there are thieves, fires,…
Life Insurance
Pays money if someone dies- so they can take care of their fa…
Health Insurance
Pays for your health care
33 terms
Insurance
Risk
Peril
Insurance
Policy
The uncertainty about a situation's outcome
A cause of loss;exposure to injury, loss, or destruction; gra…
An arrangement between an individual (consumer) and an insure…
A contract between the individual and the insurer specifying…
Risk
The uncertainty about a situation's outcome
Peril
A cause of loss;exposure to injury, loss, or destruction; gra…
23 terms
Insurance
Insurance
health
medicare
medicaid
红白蓝卡;65岁以上者
白卡
Insurance
health
61 terms
Insurance
insurance
indemnify
contingency
peril
A contract whereby(as a result of which) one party (insurer)…
make secure against loss; compensate for loss (Eg: The city w…
It's impossible to legislate for every contingency.... accidenta…
N. dangerous situation... Every moment life and limb were in per…
insurance
A contract whereby(as a result of which) one party (insurer)…
indemnify
make secure against loss; compensate for loss (Eg: The city w…
34 terms
Insurance
Insurance
Law of large numbers
Loss
The insured cannot collect but the mor…
transfers the risk of loss from an individual or business ent…
state that the larger the number of people with a similar exp…
Insurance is a contract by which one seeks to protect another…
The insured has violated the contract without the knowledge o…
Insurance
transfers the risk of loss from an individual or business ent…
Law of large numbers
state that the larger the number of people with a similar exp…
45 terms
Insurance
Risk
Emergency Savings
Insurance
Policy
Chance of loss from an event that cannot be entirely controll…
At least 6 months of income set aside to cover costs of unexp…
Transfers risk from an individual to an insurance organization.
A contract that specifies what risks are covered and how much…
Risk
Chance of loss from an event that cannot be entirely controll…
Emergency Savings
At least 6 months of income set aside to cover costs of unexp…
25 terms
Insurance
take out insurance policy
protect against
risk
theft
wykupywać polisę ubezpieczeniową
zabezpieczać przed
ryzyko
kradzież
take out insurance policy
wykupywać polisę ubezpieczeniową
protect against
zabezpieczać przed
24 terms
Insurance
Insurance
Assurance
Types of Insurance
Third Party
Insurance covers a RISK that might happen i.e. House fire, ca…
Assurance covers a RISK that will happen i.e. Life Assurance
Property... Car - Third party, Third party fire and theft, compr…
...
Insurance
Insurance covers a RISK that might happen i.e. House fire, ca…
Assurance
Assurance covers a RISK that will happen i.e. Life Assurance
19 terms
Insurance
Automobile Insurance
Beneficiary
Claim
Co-Insurance
provides payments for both liability and property insurance
Someone who receives money if an insured person dies
A formal request to an insurance company asking for a payment…
Requires the insured individual to pay a fixed percentage of…
Automobile Insurance
provides payments for both liability and property insurance
Beneficiary
Someone who receives money if an insured person dies
14 terms
Insurance
Co-Pay
Deductible
Brand name drug
Exclusions
Money a person is required to pay for services, after the ded…
Amount a person must pay for health care expenses before insu…
Prescription drugs marketed with a specific name by the compa…
Medical services not covered by an individual's insurance pol…
Co-Pay
Money a person is required to pay for services, after the ded…
Deductible
Amount a person must pay for health care expenses before insu…
13 terms
Insurance
disability insurance
auto liability insurance
term life insurance
renters insurance
A form of health insurance that provides periodic payments to…
plan that pays for the damage of other peoples car
Insurance that provides financial protection from losses resu…
a type of insurance that covers the loss of a tenant's person…
disability insurance
A form of health insurance that provides periodic payments to…
auto liability insurance
plan that pays for the damage of other peoples car
49 terms
Insurance
Historically, how did health insurance…
Which of the following plans was one o…
Which federal insurance plan provides…
What insurance plan provider for care…
as an employee benefit, health insurance can increase functio…
Kaiser Permanente
Medicare
Medicare
Historically, how did health insurance…
as an employee benefit, health insurance can increase functio…
Which of the following plans was one o…
Kaiser Permanente
60 terms
Insurance
Under a written insurance contract, th…
The employment forecast for well-train…
In general, how do the cost of policie…
What is typically required of professi…
payments for covered medical services
increasing opportunities
Policies written for groups are cheaper
continuing education sessions
Under a written insurance contract, th…
payments for covered medical services
The employment forecast for well-train…
increasing opportunities
31 terms
Insurance !
RISK
PURE RISK
SPECULATIVE RISK.
EXPOSURE
THE UNCERTANTY THAT A LOSS WILL HAPPEN
A INSURABLE RISK (ONLY A CHANCE ) OF A LOSS NO CHANCE OF GAIN
A CHANCE OF GAIN, A CHANCE OF LOSS ,CHANCE OF BREAKING EVEN…
A UNIT OF MEASURE TO DETERMINE A RATE
RISK
THE UNCERTANTY THAT A LOSS WILL HAPPEN
PURE RISK
A INSURABLE RISK (ONLY A CHANCE ) OF A LOSS NO CHANCE OF GAIN
64 terms
Insurance
Policy
Premium
Claim
Deductable
The legal agreement between you and your insurance company th…
The annual amount that you pay for auto insurance.
A formal demand for payment ( for covered loss).
A formal demand for a payment of a covered loss by the insura…
Policy
The legal agreement between you and your insurance company th…
Premium
The annual amount that you pay for auto insurance.
43 terms
Insurance
simple negligence
gross negligence
punitive damage
2%
mistake made that was just an error
mistake made due to recklessness; specifically due to apathy…
damages awarded that are intended to punish that will not be…
% of malpractice claims that are a failure to warn
simple negligence
mistake made that was just an error
gross negligence
mistake made due to recklessness; specifically due to apathy…
14 terms
Insurance
Insurance
Premium
Insurance Broker
Assurance
Insurance is an agreement between an individual who is afraid…
In return for a fee called a premium the insurer will make go…
An insurance broker is a person who works for him/herself and…
Life assurance is where there is a certainty that a person wi…
Insurance
Insurance is an agreement between an individual who is afraid…
Premium
In return for a fee called a premium the insurer will make go…
23 terms
Insurance
Risk
Insurance
Risk Pooling
Insurance Policy
A situation involving exposure to danger, harm, or loss.
A means of guaranteeing protection or safety.
The spreading of financial risk evenly among a large number o…
A contract in which an individual or entity receives financia…
Risk
A situation involving exposure to danger, harm, or loss.
Insurance
A means of guaranteeing protection or safety.
27 terms
Insurance
Insurance
Premium
Deductible
Claim
A company or government agency provides a guarantee for compe…
The amount paid to purchase insurance. Premium amounts vary f…
Amount of money that the insured must pay before the insuranc…
A request to an insurance company asking for a payment based…
Insurance
A company or government agency provides a guarantee for compe…
Premium
The amount paid to purchase insurance. Premium amounts vary f…
58 terms
Insurance
Procedures used by insurers to avoid d…
Payments made to an insured person to…
When health care providers inform pati…
Insurance company that intervenes to p…
COB Coordination of Benefits
loss-of-income benefits (AFLAC)
fee disclosure
third-party payer
Procedures used by insurers to avoid d…
COB Coordination of Benefits
Payments made to an insured person to…
loss-of-income benefits (AFLAC)
7 terms
insurance
bodily injury liability
property damage liability
uninsured motorist
collision
pays claim against owner if someone is killed or injured and…
pays claim against the owner if the property of other is dama…
pays for injuries to you and your passengers in case of a hit…
pays cost of repairing or replacing owners car when owner is…
bodily injury liability
pays claim against owner if someone is killed or injured and…
property damage liability
pays claim against the owner if the property of other is dama…
16 terms
Insurance
Automobile Insurance
Beneficiary
Coverage
Dependents
A type of insurance that covered property damage or legal lia…
The individual or group of individuals named to receive the b…
The things that are protected in an insurance policy
The person who depend on someone for their livelihood. Most o…
Automobile Insurance
A type of insurance that covered property damage or legal lia…
Beneficiary
The individual or group of individuals named to receive the b…
62 terms
INSURANCE
Adjuster
Appraiser
Beneficiary
Benefits
Liquidador de daños/ Perito de siniestros.
Tasador, evaluador, agente de avalúos.
Beneficiario
Beneficios
Adjuster
Liquidador de daños/ Perito de siniestros.
Appraiser
Tasador, evaluador, agente de avalúos.
21 terms
Insurance
abandonment
Actual Cash Value
Adhesion
Consideration
A property or insurance concept specifying that the insurer h…
In property insurance, it is the depreciated value of propert…
A contract law concept which refers to the fact that come con…
Something of value given by each party in a contract.
abandonment
A property or insurance concept specifying that the insurer h…
Actual Cash Value
In property insurance, it is the depreciated value of propert…
21 terms
Insurance
policy
coverage
policyholder
premium
a contract between the insurance company and the insured that…
the risks covered and amount of money paid for losses under a…
person who owns the insurance policy
money paid to purchase the policy (Monthly, quarterly, semi-a…
policy
a contract between the insurance company and the insured that…
coverage
the risks covered and amount of money paid for losses under a…
50 terms
Insurance
Risk
Pooled Risk
Premium
Policy
The loss that you face
The sharing of risk; all insurance based on this
The periodic payment for begin covered by insurance
The contract that spells out what is being covered
Risk
The loss that you face
Pooled Risk
The sharing of risk; all insurance based on this
18 terms
Insurance
policy
coverage
policyholder
premium
a contract between the insurance company and the insured that…
the risks covered and amount of money paid for losses under a…
person who owns the insurance policy
money paid to purchase the policy (Monthly, quarterly, semi-a…
policy
a contract between the insurance company and the insured that…
coverage
the risks covered and amount of money paid for losses under a…
10 terms
Insurance
Insurance
Life Insurance
Supplemental Insurance
Auto Insurance
Purchased to provide financial protection in the event of a l…
A protection against the loss of income that would result if…
Extra insurance you can purchase to help pay for services and…
A legal contract between you and an insurance company to prov…
Insurance
Purchased to provide financial protection in the event of a l…
Life Insurance
A protection against the loss of income that would result if…
8 terms
Insurance
Insurance
Premium
Life insurance
Travel insurance
Where a company provides a guarantee of compensation for spec…
The amount of money to be paid to receive insurance cover.
Insurance that compensates (pays) a person in the event of th…
Insurance that covers you for any expenses from an accident o…
Insurance
Where a company provides a guarantee of compensation for spec…
Premium
The amount of money to be paid to receive insurance cover.
15 terms
Insurance
Loading
Insurer
VHI
Insured
Increased risk which leads to a higher premium
The insurance company
Health insurance company
The person who takes out insurance
Loading
Increased risk which leads to a higher premium
Insurer
The insurance company
20 terms
Insurance
Insurance
Insurer
Insurance policy
Policyholder
promised payment for future losses should they occur in excha…
a company that pays to compensate the policyholder for losses…
a written contract between an insurer and a customer (the pol…
the owner(s) of an insurance policy
Insurance
promised payment for future losses should they occur in excha…
Insurer
a company that pays to compensate the policyholder for losses…
8 terms
Insurance
Insurance
Health Insurance
Auto Insurance
Renter's Insurance
An arrangement between an individual and an insurer to protec…
provides protection against financial losses resulting from i…
Insurance to protect a car owner in the event of an accident…
a type of insurance that covers the loss of a tenant's person…
Insurance
An arrangement between an individual and an insurer to protec…
Health Insurance
provides protection against financial losses resulting from i…
22 terms
Insurance
insurance
risk
premium
deductible
protection against possible financial loss
The chance of injury, damage, or economic loss
The money paid to an insurance company to purchase a policy
a predetermined amount that insured must pay each year before…
insurance
protection against possible financial loss
risk
The chance of injury, damage, or economic loss
11 terms
Insurance
insurance
policy
premium
risk
protection against possible financial loss
contract between person and insurance company
fee for insurance
the chance of loss or injury
insurance
protection against possible financial loss
policy
contract between person and insurance company
19 terms
Insurance
acceleration clause
attained age
benefit period
actuary
klauzula przyśpieszenia płatności
wiek ubezpieczonego na dany okres ubezpieczenia
okres świadczenia zasiłku/zapomogi
rachmistrz ubezpieczeniowy
acceleration clause
klauzula przyśpieszenia płatności
attained age
wiek ubezpieczonego na dany okres ubezpieczenia
8 terms
Insurance
RISK
Risk Management
Insurance
Insurance Policy
The chance of a loss from some type of danger.
How you deal with the chance of a potential personal or finan…
A means of guaranteeing your financial protection against var…
A written contract detailing what an insurance company will c…
RISK
The chance of a loss from some type of danger.
Risk Management
How you deal with the chance of a potential personal or finan…
17 terms
Insurance
Deductible
Exclusions
EOB
Medicare
The amount you have to pay out of pocket before the insurance…
Not all services are covered
A document explaining what is... covered for medical services an…
An insurance issued by the... government for 65 and up.
Deductible
The amount you have to pay out of pocket before the insurance…
Exclusions
Not all services are covered
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