Business > QUESTIONS & ANSWERS > Insurance Questions and answers. Graded A+, 2022/2023. 100% Comprehension (All)

Insurance Questions and answers. Graded A+, 2022/2023. 100% Comprehension

Document Content and Description Below

Insurance Questions and answers. Graded A+, 2022/2023. 100% Comprehension Actuary - ✔✔A person who compiles and analyzes statistics to calculate risk and determine insurance rates and premiums ... Catastrophic Health Insurance - ✔✔Health insurance that provides protection against the high cost of treating severe or lengthy illness or disabilities and usually has a high deductible and lower premiums CHIP - ✔✔Children's Health Insurance Program. A program that provides low-cost health coverage to children in families who earn too much money to qualify for Medicaid Claim - ✔✔A formal request from the customer to an insurance company asking for a payment based on the terms of the insurance policy Collision Coverage - ✔✔Auto insurance that protects you against costs to repair your own vehicle after a crash Comprehensive Coverage - ✔✔Auto insurance that protects you against costs to repair or replace your vehicle after events out of your control such as weather, vandalism, theft, etc. Conditions of the Policy - ✔✔The portion of a car insurance policy that spells out the details for how to make a claim, what information you must have, how much time you have, and how to cancel your policy Copay - ✔✔A fixed dollar amount that you agree to pay each time you receive medical treatment, such as a doctor's visit or prescription Coverage Limit - ✔✔The maximum amount an insurance company will pay if you file a claim Declaration Page - ✔✔The page of a car insurance policy which includes a summary description of the insurance coverage provided and gives the maximum dollar limit the insurer will pay for a claim under each coverage Deductible - ✔✔The amount of money you agree to pay towards your losses before your insurance coverage will begin paying Disability Insurance - ✔✔A type of insurance paid to an individual if they are injured and unable to work for a specified length of time Extended Warranty - ✔✔An additional form of protection that can be purchased to extend/enhance a manufacturer's warranty on consumer goods, like phones and electronics Federal Deposit Insurance Corporation (FDIC) - ✔✔The U.S. corporation insuring deposits in US banks against bank failure FSA - ✔✔Flexible Spending Account. An account set up through an employer to cover health costs with pretax dollars that has very little or no rollover from year to year. HMO - ✔✔Health maintenance organization. A health insurance plan in which patients receive health care from designated providers. Homeowners Insurance - ✔✔A form of property insurance, available to property owners, that covers losses to the physical structure as well as to their personal property and protects the insured person from liability claims [Show More]

Last updated: 2 years ago

Preview 1 out of 4 pages

Buy Now

Instant download

We Accept: