| A | B |
|---|
| Annual Deductible | A portion of a covered loss not paid by the insurer during the insured’s annual 12-month policy period. Deductible amount resets each policy year period. |
| Cancer Insurance Coverage | Insurance pays benefits only if you’re diagnosed with cancer -- not for other illnesses -- and it doesn’t cover all your treatment costs. It's designed to supplement, not replace health insurance |
| Claims | Notice by the insured to the insurance company that a loss has occurred and demand for payment for the loss |
| Collision Coverage | Covers your vehicle for damage caused by impact with another vehicle or object or overturn of your vehicle |
| Comprehensive Coverage | Other than Collision-provides protection from theft, fire, windstorm, hail, flood, falling objects, collision with a bird or animal. (Exceptions-road damage to tires, mechanical breakdown or wear and tear on a vehicle) |
| Deductibles | A portion of a covered loss that is not paid by the insurer |
| Dental Insurance Coverage | Available in group and individual plans. May have restrictions on certain services, such as orthodontic work. Many dental plans also have a maximum benefit of around $1,000 to $2,000 per year. May restrict coverage of pre-existing conditions |
| Disability Insurance Coverage | Insurance provides monthly benefits to a disabled wage earner to reimburse the wage earner’s income during a period of total or partial disability. |
| Earth Movement | Includes earthquakes, landslides, mudslides etc. |
| Exclusions | Provision in an insurance policy eliminating coverage for certain risks or limiting coverage |
| Fire Insurance | Coverage for losses to insured property resulting from fire or lighting, as well as any resulting smoke or water damage |
| Group Insurance Coverage | Coverage provided by a group which is normally the insured’s employer or other inclusive group. Coverage rates are based on the group’s “experience rating” so that each group pays according to its actual claim experience. Almost sixty percent of Americans have group health insurance |
| Hazard | A condition that makes a peril more likely to happen or that increases the seriousness of a loss |
| HMO-(POS) | The plan is like a combination of the HMO and PPO plans. You are required to designate an in-network physician to be your primary health care provider. You may go out-of-network if you choose, but in doing so, you will have to pay most of the cost yourself |
| HMO | Health Maintenance Organization-group managed health insurance where will need to receive most or all your health care from a network provider. HMOs require that you select a primary care physician (PCP) who is responsible for managing and coordinating all your health Care |
| Homeowners Insurance | Designed to protect the physical assets owned, leased, rented or used by individuals and families. |
