Insurance – Flashcard Test Answers

a person who derives advantage from something, especially a trust, will, or life insurance policy

a person who buys and sells goods or assets for others

state or assert that something is the case, typically without providing evidence or proof.

Collision insurance is a type of auto insurance coverage. Collision Insurance will reimburse the insured for any damage sustained to their personal automobile that is due to the fault of the insured driver.

a payment made by a beneficiary (especially for health services) in addition to that made by an insurer.

the amount paid to a beneficiary upon the death of an insured person.

able to be deducted, especially from taxable income or tax to be paid

Dental Insurance is an insurance coverage for individuals to protect them against dental costs.

Disability Insurance’ A program managed by the Social Security Administration that insures a worker in case of a mishap. Disability insurance offers income protection to individuals who become disabled for a long period of time

An effective date or as of date is the date upon which something is considered to take effect, which may be a past, present or future date. This may be different from the date upon which the event occurs or is recorded.

Health Maintenance Organization.” HMO plans offer a wide range of healthcare services through a network of providers who agree to supply services to members.

health reimbursement account (HRA) consists of employer-funded plans that reimburse employees for incurred medical expenses that are not covered by the company’s standard insurance plan.

of ‘Automobile Liability Insurance’ Financial protection for a driver who, while operating a vehicle, harms someone else or their property

The Living Benefits Rider (LBR) can help offer peace of mind at a critical time. It entitles the policy owner to an early (accelerated) payout of policy death benefits,1 if the insured is diagnosed to have a life expectancy of 12 months or less.

Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities

the authority to act for another person in specified or all legal or financial matters

an amount to be paid for an insurance policy

primary care physician is a physician who provides both the first contact for a person with an undiagnosed health concern as well as continuing care of varied medical conditions

life insurance that pays a benefit in the event of the death of the insured during a specified term

‘Vision Care Insurance’ A financial protection plan that requires the policyholder to pay a monthly fee in exchange for reduced-cost fees on some eye health and vision correction services and products.

life insurance that pays a benefit on the death of the insured and also accumulates a cash value