A retirement savings plan funded by tax-deferred employee contributions. In some cases, employers match a percentage of these contributions.
Accidental death & dismemberment (AD&D) insurance
This policy provides funds in the event of a fatal accident or one that leads to loss of a limb or eyesight.
A person other than the named insured who is protected by an insurance policy.
An insurance company representative who investigates insurance claims to determine the extent of the firm’s liability for loss.
Maximum age of an applicant or insured at which an insurance company will not underwrite a risk or continue to insure it.
A person licensed to sell insurance policies.
Practices not generally recognized by the medical community as standard treatments.
Money paid in fulfilling an insurance claim.
An independent insurance agent who represents the buyer instead of the insurance company.
An individual who acts as an agent of one or more insurers and as a broker in dealing with insurance companies.
Demand for payment under the terms of an insurance policy.
Copayment, or copay
Small fee paid for a medical service by an insured person.
Contribution made by consumers towards health care costs.
Total amount and type of insurance carried.
Single insurance policy issued to an individual or family. Policies often cost more and offer fewer benefits than group coverage.
Insurance policy issued to a group, such as a business, that covers eligible members and, in some cases, their dependents.
Critical illness insurance
Health insurance policy that pays a lump sum if the insured falls critically ill with a covered condition.
Amount of money paid by the insured person for a covered expense before the insurance policy provides benefits.
An insurance contract that helps pay for dental care.
Insurance policy that replaces a portion of lost earnings from disability for a specific time period, typically greater than one year.
Insurance policy that replaces a portion of lost earnings from disability for a limited time period, typically less than one year.
Compensation given to employees in addition to wages or salaries, such as group insurance and retirement benefits.
A loss or risk not covered by an insurance policy.
© 2007 Arnel Associates. All Rights Reserved.