insurance lingo

Glossary of Common Insurance Terms

Details: Glossary of Common Insurance Terms NOTICE: This document is for informational purposes only and is not intended to alter or replace the insurance policy. Additionally, this informational sheet is not intended to fully set out your rights and obligations or the rights and obligations of the insurance company.

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Glossary of insurance terms — Economical Insurance

Details: In insurance terms, flooding refers to unwanted water that can damage your home, property, or belongings. Flooding includes natural disasters like tidal waves and tsunamis, as well as water that overflows or makes its way out of a nearby ocean, lake, or pond. Although you may refer to the gushing pipe in …

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Insurance Glossary | Home Insurance Terms | Kin Insurance

Details: Homeowners Insurance Glossary. 100-Year Floodplain. Also called base floodplains, the 100-year floodplain refers to any area that has a one percent chance of experiencing a base flood in any given year. They're designated as Special Flood Hazard Areas (SFHAs). Actual Cash Value.

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Insurance Terminology - North American Training Group, Inc

Details: Dictionary of Insurance Terms -A- • Absolute Liability: Liability for damages even though fault or negligence cannot be proven. • Accident: An event or occurrence which is unforeseen and unintended. • Act of God: A flood, earthquake or other non preventable accident resulting from natural causes that occur without any human intervention. • Activities of Daily Living: A list of ...

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Insurance Terms & Definitions

Details: Insurance coverages. When reading the definitions, please keep in mind that this glossary is provided as a guide only curated from various sources. These general definitions are provided for educational purposes. Please refer to your policy or certificate of insurance for exact definitions of terms and coverage provisions.

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Glossary of Life Insurance Terms | SmartAsset.com

Details: A life insurance policy that provides coverage until the death of the insured person. Policy The legal document, issued by the life insurance company to the policyholder, stating the terms of the life insurance contract. Policy Loan A loan a life insurance company makes to a policy owner.

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Glossary Terms | Allstate

Details: The person or organization designated to receive proceeds under the terms of a life insurance policy, college savings plan or annuity. Benefit. The proceeds or payout from a life insurance policy, supplemental health policy or an annuity. Typically paid to the policy holder or the beneficiary. Binder.

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Home Insurance Glossary - Home Insurance

Details: We’ll admit it. Some insurance terms can be tough to understand. Whether you’re looking for a specific term or simply trying to brush up on your home insurance knowledge, we can help. Check out our glossary for home insurance definitions from our experts. As an informed customer, you can better understand your home insurance …

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Understanding Business Insurance Terminology | Trusted Choice

Details: Aug 10, 2020 · To gain insight into your company’s insurance policy, it’s helpful to have a grasp of basic business insurance terms. Independent insurance agents believe that knowledge is power, and they are dedicated to providing consumers, not only with competitive rates and coverage, but with education and answers as well.. Business terminology shouldn’t be reserved for insurance agents.

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Insurance Licensing Terminology Glossary - Supportive ...

Details: Insurance Licensing Terminology Glossary Barb Donnar 2018-08-22T14:13:28+00:00 There are many questions regarding the terminology surrounding insurance licensing. Here is a glossary of insurance licensing terms for your convenience and clarification.

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Resources Insurance Glossary

Details: Designed and taught by leading, insurance sales professionals who are active in the industry. The series takes the sales process, sales management, and agency/company relations to a new level. While many generic sales programs are available, Dynamics of Selling remains the only “insurance specific” sales training in.

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Glossary of Terms | Health Insurance, Medicare & More ...

Details: A set amount of money you pay at first for covered health care services, before your health plan begins paying. Dental care. Services for the health of your teeth and gums. Dependent. Members of the subscriber’s family, like a child or spouse, who are eligible for benefits under their health plan. Diagnostic care.

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Glossary of Insurance and Medical Billing Terms

Details: Glossary of Insurance and Medical Billing Terms T TAR Treatment Authorization Request -- An authorization number given by insurance companies prior to treatment in order to receive payment for services rendered. Tele Comm Support Internet software or hardware support with the staff of Tele Comm Computer Systems, Inc.

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Insurance Glossary | Definition of Insurance Terms ...

Details: A Glossary of Basic Insurance Terms A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A Acceleration Clause The part of a contract that says when a loan may be ...

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Glossary of Insurance Terms - American Strategic Insurance

Details: Glossary of Insurance Terms If you’re hoping to better understand some of the commonly used terms in our policy forms, view our glossary below. Please note that the information stated may not apply to all situations, since insurance laws vary by state and coverage may not be available in some jurisdictions.

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Glossary of Insurance Terms - Public Adjuster

Details: Property insurance claims terms explained and dictionary. Fired vessels, steam generators, mechanical and or electrical objects and turbines, are all examples of "objects" that might be …

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Glossary - Understand Insurance

Details: An asset in insurance terms is something with monetary value that is covered by an insurance policy, such as a car or a property. Under that policy, the insurer must compensate the policyholder (in accordance with the policy’s terms and conditions) if the asset is damaged or destroyed and the policyholder makes a claim.

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Common Health Insurance Terminology 101 - JDRF

Details: Common Health Insurance Terminology 101. Many of the terms you encounter when dealing with health insurance are not familiar. While these terms can be confusing, the better you understand them, the better you will be prepared to successfully gain coverage and access to the treatments that are right for you.

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Glossary of Homeowner Insurance Terms | Utah Insurance ...

Details: Glossary of Homeowner Insurance Terms. Actual Cash Value (ACV): Replacement cost less depreciation, considering the age and condition of your property. Additional Living Expenses: Pays expenses over and above your normal living costs (motel rooms, restaurant meals, and laundry service) while your home is being repaired or rebuilt after damage ...

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Home insurance and renters insurance glossary terms

Details: Find definitions to the most important home insurance and renters insurance terms at Insurance.com. Call our licensed agents toll free 844.855.0163 auto insurance

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Health Insurance Terms Glossary | Medical Mutual

Details: This glossary explains what the words and phrases mean for health insurance. Allowed Amount - The highest amount we will cover (pay) for a service. Benefit Period - When services are covered under your plan. It also defines the time when benefit maximums, deductibles and coinsurance limits build up.

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Auto Insurance Term Glossary from Insurance.com

Details: Insurance company that actually underwrites and issues the insurance policy. The term refers to the fact that the company carries (or assumes) certain risks for the policyholder. Casualty. Liability or loss resulting from an accident. Claim. Request by an insured for the insurance company to cover an incurred loss.

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Life Insurance Terminology & Definitions | Policygenius

Details: Aug 11, 2020 · Our glossary of the most common terms, phrases, and concepts will help you brush up on life insurance definitions in no time. When you're ready to take the next step, compare quotes for free or talk to a Policygenius expert .

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Glossary of Terms : Farmers Insurance

Details: Is intended to give common, non-technical definitions for basic insurance terms. It does not provide the reader with policy, legal or contractual definitions; Farmers® specific acronyms; or terminology which is unique to the Farmers companies. Is not intended to be all-inclusive. More detailed glossaries of insurance terms are available on the market and through the Internet.

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Glossary of Insurance Terms - Chapman University

Details: GLOSSARY OF RISK MANAGEMENT TERMS This is a comprehensive list of insurance terms. Not all concepts or coverages identified in this list are found at Chapman University. Revised: October 23, 2006 A Absolute Liability: Liability arising from extremely dangerous operations; for example, blasting.

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Glossary of Business Insurance Terms | The Hartford

Details: When you buy business insurance, you’ll get a policy explaining your coverage and how it works.Chances are, there will be some words and terms within the policy that you don’t understand. To help know what you’re reading, we’ve created this glossary of key business insurance terms and definitions.

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Auto insurance jargon buster | III

Details: Don’t be intimidated by specialized insurance language. Below you’ll find definitions of some of the most common terms used when dealing with auto insurance. Adjuster. An insurance company employee or contractor who reviews the damages and injuries caused by an accident and okays claims payments. Bodily injury liability

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Definitions for Homeowners Insurance Terms

Details: Homeowners Insurance Glossary of Terms. Actual Cash Value. The cost of repairing or replacing damaged property with property of the same kind and quality, less depreciation (i.e., in the same physical condition as the original property prior to damage).

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Jargon buster - British Insurance Brokers' Association

Details: The insurance industry uses quite a number of technical terms, usually for reasons of precise meaning, which are not necessarily easily understood by the layman. This section clarifies what the key words and phrases that you'll find in insurance documents mean.

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Understanding Health Insurance - MedicalBillingandCoding.org

Details: Understanding important terminology pertaining to health insurance is the first step to obtaining a cost-effective coverage plan that serves all of your individual or family needs. Premium: The amount you pay your insurance company for health coverage each month or year. Deductible: The amount of money you must pay out-of-pocket before coverage ...

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Common Health Insurance Terms Explained – Western ...

Details: Sep 07, 2021 · Common Health Insurance Terms Explained. By. The Western PA Healthcare News Team. -. September 7, 2021. 0. 1. When shopping for Obama care plans online, it can be difficult to choose which plan may work best for you and your family, as each plan is filled with terms that …

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Insurance Terms and Related Concepts Flashcards | Quizlet

Details: Insurance Terms and Related Concepts. ASubrogation. BAdverse selection. CRight of rescission. DPrinciple of indemnity. ANamed risk and un-named risk. BHigh risk and low …

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Key Car Insurance Terms You Need to Know | QuoteWizard

Details: Mar 11, 2021 · A car insurance deductible is the amount of money you pay out of your own pocket before your insurance provider covers the rest of a claim. How much you pay depends on the policy and the company. Usually, though, car insurance deductibles are between $0 and $1,500. Keep in mind that car insurance deductibles and premiums are related.

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Exploring Benefits Lingo | San Diego Employee Benefits ...

Details: Sep 02, 2021 · Co-insurance: Your share of the cost for a covered health care service, usually calculated as a percentage (like 20%) of the allowed amount for the service. For example, if your plan has a 30% co-insurance rate, the carrier will pay 70% of the allowed amount while you pay the balance.

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Glossary of health insurance terms | Boston.gov

Details: Feb 24, 2021 · Health insurance is full of terms you may not know. To help you better understand health insurance, here’s a list of the most commonly used health care terms and definitions. Learn more about upcoming changes to the City of Boston's Non-Medicare health plans and benefits available to City workers and retirees.

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Group Health Insurance Terms You Must Know

Details: Sep 06, 2021 · Below you will find the most common group health insurance terms: Administrator: any third party engaged by the insurer for providing policy and claims facilitation to the insured. Accumulation period: a period that begins just after purchasing a group insurance plan whereby the insured (policyholder) is not eligible to claim any cover from the ...

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A consumer's insurance glossary | Washington state Office ...

Details: In exchange for a premium, the insurance company agrees to pay for losses covered under the terms of the policy. Insurance commissioner — The elected state official who is authorized to enforce the state’s insurance law and to make reasonable rules and regulations to implement provisions of the law. The insurance …

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Glossary of Insurance Terms | University Health Services

Details: Glossary of Insurance Terms. Physical harm or disability which is the result of a specific unexpected incident caused by an outside force. Accidental injury does not include illness or infection, except infection of a cut or wound. Ambulatory surgical centers are outpatient surgical facilities that …

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Treaty Reinsurance Definition

Details: Treaty reinsurance is insurance purchased by an insurance company from another insurer. The issuing company is called the cedent, while the reinsurer is the purchasing company, which assumes the ...

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Trucking Insurance Terms | TheTruthAboutInsurance.com

Details: Jul 19, 2021 · Trucking Insurance Glossary. BMC34 – A motor truck cargo filing sent to the Federal Highway Administration by the insurance company as proof of insurance.. BMC91 (X) – An auto liability filing sent to the Federal Highway Administration by the insurance company as proof of liability insurance. BMC35 – An auto liability filing sent to the Federal Highway Administration by the insurance ...

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Glossary - Bankrate.com

Details: A glossary of personal finance terms you need to know. Discover the definition of financial words and phrases

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Auto Insurance Glossary | North Dakota Insurance Department

Details: Auto Insurance Glossary Auto Insurance Glossary ... Adjuster - a person who investigates and settles losses for an insurance carrier. Agency - a firm that solicits insurance for one or more insurance carriers. It also may issue policies and adjust losses. Agent - an insurance salesperson. An agent represents the insurance …

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Insurance Terms and Definitions - RinggitPlus

Details: Failure to comply with the terms or conditions incorporated in an insurance policy, frequently resulting in a restriction of coverage or a voiding of a policy itself. Broker An individual who arranges and services insurance policies on behalf of the insurance buyer: he or she is the representative of the …

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Health Insurance Glossary - Health Insurance Definitions ...

Details: please note, however, that definitions of certain terms may vary across insurance companies. eHealthInsurance is the nation's leading online source of health insurance . eHealthInsurance offers thousands of health plans underwritten by more than 180 of the nation's health insurance companies, including Aetna and …

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What Does Dental Insurance Cover?

Details: Sep 02, 2021 · Key Dental Insurance Terms . Annual Maximum: This is the maximum amount your dental plan will pay for services each year. For example, if your annual maximum is $1,000, your plan will only pay up to $1,000 of covered services after your deductible. Coinsurance: Coinsurance is the percentage of the cost of a procedure you’re expected to pay ...

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