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15 Cards in this Set
- Front
- Back
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health insurance
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a plan for sharing the risk of high medical costs resulting from injury or illness
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group health insurance
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is issured to a group such as an employer or trade association to cover individuals in the group and sometimes their dependents
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COBRA
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allows people to leave employment to continue their health insurance under company plan for limited period of time.
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Coordination of benefits
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a group health insurance provision that specifies how the insurers will share the cost when more than one policy covers the claim
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Preferred provider organization
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a group of healthcare provdiers who band together to provide health services for set fees.
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health manitenance organization
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a group plan offering prepaid medical care to its members
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Medicare
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is government sponsored health insurance for people currently age 65 and older
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medicaid
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government sponsored health insurance for people with low incomes and limited resources.
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Disability insurance
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an insurance plan that makes regulary payments to replace income lost when illness or injury prevents the insured from working
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Life insurance
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insurance that provides funds to the beneficiaries when the insured dies
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incontestable clause
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provision of a life or health insurance policy that once the policy has been in effect for a stated period of time the insurer may no longer question items on the application in order to deny coverage
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rider
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a small insurance policy that modifies teh coverage of the main policy
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term life insurance
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a life insurance policy that remians in effect for a specified period of time.
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permanent life insurance
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life insurance that remains in effect of the insured'd lifetime and builds cash value
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cash value
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the savings accumulated in a permanetn life insurance policy that you would recieve if you canceled your policy
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