| A | B |
|---|
| Collision | Insurance to pay for the damage to a vehicle when involved in a collision with another vehicle or object. |
| Comprehensive Insurance | Insurance to pay for damage to a vehicle for incidents that do not involve a collision; for example theft, storms, and fire. |
| Deductible | The amount paid out of pocket by a policyholder when a loss occurs. If the loss is over this amount, the insurance company pays the rest of the loss. |
| Flood Insurance | a certain type of insurance that protects a home against damage or destruction caused by a flood. |
| Floater/Ryder | A small separate insurance policy in addition to another policy which covers some specific or most valued possessions. |
| Home Insurance | Insurance that provides protection ofr a home and the content in the home. |
| Insured | A person covered by insurance. |
| Liability | Insurance that pays for the damages of property of others involved in the accident when you are not at fault. |
| Premium | A fee paid to the insurance company to be covered by the insurance policy under the terms in the agreement. |
| Claim | When a report is filed with an insurance company so that the insured party may be compensated for the damages. |
| Beneficiary | The person(s) entitled to receive some type of property under the provision of a will |
| Co-Payment | The portion of a medical expens for which the insured of a health plan must pay out of pocket. |
| Dependent | A person that is financially supported for tax purposes or insurance purposes. |
| Executor | The party who makes sure that willed items or money are distributed in the manner that the deceased desires. |
| Guardian | An individual specified by the deceased who takes on responsibility of providing care for the children of the deceased. |
| Living Will | A Legal Document that states medical wishes for an individual if he/she become incapacited or unable to make medical decisions. |
| Policy | A contract between the insured and the insurer that specifices the terms and arrangement of the insurance. |
| Power of Attorney | The legal right to act on someone else's behalf in specified affairs. |
| Probate | The legal right to act on someone else's behalf in specified affairs. |
| Renter Insurance | Insurance that protects against the loss of contents in the residence, but not the residence, but not the resident itself. |
| Trust | The legal contract holding property of an individual for the benefit of someone else. |
| Trustee | An individual or institution appointed to manage property for the benefit of someone |
| Uninsured Motorist | A driver involved in a vehicle accident who does not have insurance. |
| Will | A legal document that enforces an individual's wishes reguarding how property and guardianship should be distributed after the death of an individual. |
