Term insurance that provides coverage for one year and allows the policy owner to renew his or her coverage each year. Able able and available additional claim adjudication alien status alternate base period appeal appeals hearing approved training available back pay base period benefit year benefit year beginning date benefit year ending date between academic school terms. A percentage of the cost of services that the insured person have to pay. Accelerated death benefits a life insurance policy option that provides policy proceeds to insured individuals over their lifetimes, in the event of a terminal illness. Box 149104, austin, tx 78714 5126766000 8005784677.
The disclosures are part of your policy or evidence of coverage. Acknowledgement admitting that someone has a claim or admitting that a debt exists. Glossary of insurance terms pdf,, download ebookee alternative effective tips for a improve ebook reading. Glossary of important insurance terms download pdf. When it comes to choosing the best automobile insurance, knowing industry terms and language gives you a good head start. Glossary of health coverage and medical terms page 1 of 4 this glossary has many commonly used terms, but isnt a full list.
The most comprehensive investing glossary on the web. The formal request by a policy holder or claimant to be paid under the terms of the insurance policy. Dictionary of insurance terms a absolute liability. Title insurance provides coverage for losses that occur when a land title is not free and clear of defects e. Modified adjusted gross income magi nonpreferred provider. Under that policy, the insurer must compensate the policyholder in accordance with the policys terms and conditions if the asset is damaged or destroyed and the policyholder makes a claim. Conventional indemnity plan an indemnity that allows the participant the choice of any provider without effect on reimbursement. Ashare variable annuity a form of variable annuity contract where the contract holder pays sales charges up front rather than eventually having to pay a surrender charge. Glossary of health coverage and medical terms omb control numbers 15452229, 12100147, and 09381146 page 1 of 6 glossary of health coverage and medical terms this glossary defines many commonly used terms, but isnt a full list. Glossary of risk management terms this is a comprehensive list of insurance terms. The on this guide belongs to plain english campaign. This is very much a work in progress, and we welcome any corrections, clarifications or suggested additions.
Health insurance glossary texas department of insurance. A professional trained in the mathematics of insurance and risk management, including the calculations of premiums. This glossary has many commonly used terms, but isnt a full list. This az pocket guide to understanding financial terms is just one of the achievements of ebss partnership with nala. Having launched it originally in 2004 we have now updated it with modern terminology to meet with the increasing demand for the book. While the update of the content of the internet database version is an ongoing activity, the pdf, and word versions currently available are snapshots of the internet database version as of december 2007. The terms and explanations are for the law in england and wales. No insurance website could be complete without offering and index of insurance terms and definitions.
Glossary of insurance terms the az for insurance practitioners terms generally associated with reinsurance ab initio a term used to describe avoidance of a contract from its inception or its beginning. These glossary terms and definitions are intended to be educational and may be different from the terms and definitions in your plan. Glossary of insurance terms insurance policies can be confusing and complicated if you are not often exposed to them. Compiled from the academys five insurance and risk management book plus many other sources, this extensive glossary defines, describes and details 282 insurance and risk management terms and concepts from a posteriori data to zone of danger. Form of life insurance allowing the owner to change the face amount, premium amount. Property insurance provides coverage for property that is stolen, damaged, or destroyed by a covered peril. Nov 01, 2017 when it comes to choosing the best automobile insurance, knowing industry terms and language gives you a good head start. This page provides an index of insurance terms and. Glossary to effect the closing of a mortgage loan, generally including, but not limited to a loan origination fee, title examination and insurance, survey, attorneys fee, and prepaid items, such as escrow deposits for taxes and insurance. Term used in universal life policies to describe the total of all premiums and earnings credited to the account before deductions for any expenses, loans, and surrenders. Medical insurance glossary of terms health medicare pdfs. The insurance business encompasses a daunting array of industry jargon. An asset in insurance terms is something with monetary value that is covered by an insurance policy, such as a car or a property. Acknowledgement of service when a defendant agrees that a writ or originating summons claim form since april 1999 has been received.
When reading the definitions, please keep in mind that this glossary is provided as a guide only curated from various sources. You have access to read the content online, if option available. Thankfully, there are resources to help consumers navigate the maze of unfamiliar terms. In long term care policies, how long the benefits will last, usually stated in terms of a maximum number of days, years, or visits binder. If youre looking for a free download links of glossary of insurance and risk management terms pdf, epub, docx and torrent then this site is not for you. Glossary of risk management terms this is a comprehensive.
Glossary of important insurance terms download pdf oliveboard. Download the free pdf for glossary of important insurance terms here. Thank you for choosing to learn more about residential title insurance. These general definitions are provided for educational purposes.
This page provides a glossary of insurance terms and definitions that are commonly used in the insurance business. Glossary of reinsurance terminology term definition accident year experience reinsurance experience calculated by matching the total value of all losses occurring during a 12month period with premiums earned for the same period. Words associated with surety and bonds and title insurance are listed separately at the end of this list. The term property insurance includes many lines of available insurance. A company owned solely or in large part by one or more non insurance entities for the primary purpose of providing insurance. If you have any questions about the use or meaning of a term or expression in any particular product or literature, you. Glossary of business terms adjective adj headwords for adjectives followed by information in square brackets only before a noun and not before a noun show any restrictions on where they can be used. Download glossary of insurance and risk management terms pdf. The insurance contracts act allows an insurer to avoid. Some of these terms also might not have exactly the same meaning when.
Glossary of health coverage and medical terms this glossary defines many commonly used terms, butisnt a full list. Reinsurance glossary reinsurance glossary compiled by the american council of life insurers reinsurance committee and provided by central security life insurance company cslic. Insurance terms glossary understanding common insurance terms. These glossary terms and definitions are intended to be educational and may be different from the terms and.
Liability for damages even though fault or negligence cannot be proven. Liability arising from extremely dangerous operations. Our insurance terms glossary is divided alphabetically by insurance terms in a quick reference guide to assist understanding the language commonly used by insurance companies. Insurance terminology north american training group. The current commercial time element coverage forms are. Both men served on operating commit tees of the commission on insurance terminology cit, which worked to develop more precise insurance definitions during 19581971, and both sought to continue the efforts of the commission. The insurance contracts act allows an insurer to avoid a policy ab initio in situations where an insured fraudulently non disclosed or fraudulently misrepresented. Not all concepts or coverages identified in this list are found at chapman university. The insurance contracts act allows an insurer to avoid a policy ab initio in situations where an insured fraudulently non. The purpose of liability insurance is to cover bodily injury to a third party resulting from the negligent or unintentional acts of an insured.
Glossary of insurance terms this list is not meant to be all inclusive, but should help with your understanding some insurance terms used in our website. Insurance glossary understanding common insurance terms. To make sure we are all speaking the same language you can consult the glossary of insurance terms below. Glossary of insurance terms california department of insurance. A temporary or preliminary agreement which provides coverage until a policy can be written or delivered. The original glossary of insurance terms was compiled by john s. The a to z guide to legal phrases plain english campaign. These glossary terms and definitionsare intended to be educational and may be different from the terms and definitions in your plan or health insurance policy. Claims made a method of providing liability insurance in which the insurer agrees to cover all claims asserted against the insured during a specified date period regardless of when the claim occurred. The oecd glossary of statistical terms may be downloaded directly to your computer as either a pdf or word file. Accused the person charged with a criminal offence.
Agent the insurance company representative who sells policies on behalf of the insurer. Please contact us if you want to reproduce any part of it. The tendency of those exposed to a higher risk to seek more insurance coverage than those at a lower risk. Glossary of insurance terms university health services. Texas department of insurance 333 guadalupe, austin tx 78701 p. There may be additional charges coinsurance for additional services performed.
Glossary of insurance policy terms the oecd has produced a unique glossary of insurance policy terms which covers selected topics ranging from insurance policy regulationsupervision to general trade issues. Glossary of commercial insurance terms commercial insurance is divided into two main categories. The guide is an important resource that will help to create a much greater understanding of. Disclosures a list of a health plans terms, including its benefits, exclusions, costsharing, service area, and preferred provider network. Glossary of health insurance terms blue cross and blue. Please refer to your policy or certificate of insurance for exact definitions of terms and coverage provisions. These often take the form of glossaries, or lists of specialized terms relating to a special subject in this case, insurance with accompanying definitions. Acquisition costs all expenses directly related to acquiring insurance or reinsurance. Definitions of health insurance terms in february 2002, the federal governments interdepartmental committee on employmentbased health insurance surveys approved the following set of definitions for use in federal surveys collecting employerbased health insurance data.
An event or occurrence which is unforeseen and unintended. Weve curated a list of advanced and basic insurance terms and their definitions to better help you understand the often confusing world of insurance. A flood, earthquake or other non preventable accident resulting from natural causes that occur without any human intervention. Glossary of insurance terms actuary a professional trained in the mathematics of insurance and risk management, including the calculations of premiums, policy reserves and other values. Complete glossary of insurance coverage insurance coverage terms acli.
An independent agent represents more than one company. This glossary is intended as a general aid to help you understand some of the commonly occurring phrases and jargon used in the insurance world. These glossary terms and definitions are intended to be educational and may be different from the terms and definitions in your plan or health insurance. The amount that an insured person must pay upfront at the time of service for a covered benefit. Bshare variable annuity a form of variable annuity contract with no initial sales charge but if the contract is cancelled the holder pays deferred sales charges usually from 5 to 7 percent the first year, declining to zero after from 5 to 7 years.
For example, a plan may pay 90% of the charges and the insurer pay 10%. Actual cash value is the fair market value of your vehicle. A publication used for the determination of values for used automobiles and trucks. Insurance definitions, dictionary, glossary and terms. Accumulation reinvesting income generated by a fund back into the fund.
Glossary on general insurance terms a to z a policy coverage payment reimbursement of the following expenses visit to the doctor, medical surgeries, medicines and so on. Glossary of insurance and risk management terms pdf,, download ebookee alternative effective tips for a much healthier ebook reading. Its what you could expect to receive if you sold your car to a private buyer, and its what an insurer will base your payment on if your car is stolen or totaled. The oecd has produced a unique glossary of insurance policy terms which covers selected topics ranging from insurance policy regulationsupervision to general trade issues. Noun n the codes c and u show whether a noun, or a particular sense of a noun, is countable an agenda, two agendas or uncountable. If you have any questions about the use or meaning of a term or expression in any particular product or literature, you should raise them with the provider concerned. Insurance terms used in the area of residential title insurance. You can ask an insurance company or health maintenance organization for a copy of a plans disclosures before buying the plan.
Download glossary of insurance and risk management terms. A form of corporation, allowed by the irs for most companies with 35 or fewer shareholders, which enables the company to enjoy the benefits of incorporation but be taxed as if it were a partnership. Maryland health insurance program mhip medically necessary. The date on which the sale of a property is to be finalized and a loan transaction completed. Consumer glossary national association of insurance. Glossary of health coverage and medical terms this glossary has many commonly used terms, but isnt a full list. These glossary terms and definitions are intended to be educational and may be different from the terms. Mcqa glossary of terms texas department of insurance.
Policy documents contain a number of insurance terms because they typically define the limitations of risk and liability on the insured and any exclusions of coverage. These glossary terms and definitionsare intended to be educational and may be different from the terms and definitions in your plan. While the update of the content of the internet database version is an ongoing activity, the pdf, and word versions currently available are snapshots of. The definitions in this glossary are developed by the naic research and actuarial department staff based on various insurance references.
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