An illness or injury that leaves a person unable to work
Pays for care when a person with a serious illness or injury cannot care for themselves for an extended period of time
Employers are required to have in every state in some form. Covers medical care, treatment, rehabilitation, and a portion of wages from injuries that occur in the workplace.
May be purchased by Medicare recipients to cover part/all expenses not covered by Medicare.
A federal law that someone who leaves employment may be eligible to keep insurance coverage at his/her own expense up to six months.
An illness or injury that a person has at the time he/she enrolls in a health care plan
A patient’s right to restart coverage annually
A limit on the number of days one’s care will be covered, or the highest amount that can be paid in benefits for a specific procedure
A time period during which a person can enroll in a health care plan
A medical service that is not covered
Requirement to obtain approval from the plan before having certain treatments or procedures done
A doctor who provides general medical care and coordinates other health care.
A group or individual selected to receive the assets of a person when he/she dies
Assets or gain received by having an insurance policy
The amount of money payable to a beneficiary as a death benefit when an insured dies
The length of time it takes an insurance policy to reach it full value
The amount of money a whole life policyholder would receive if the policy were surrendered before death or maturity.
A type of insurance that provides coverage for a specific period of time with no investment benefits
premiums and death benefits stay the same for the life of the policy
premiums stay the same but the benefits decrease over the life of the policy e.g. for home mortgage
the insured person can renew the policy without taking a physical
the insured person can change the policy from convertible to permanent without taking a physical, tends to be more expensive
(also called cash value life insurance) provides coverage the person’s entire life and includes an investment component
a type of insurance that provides coverage for a whole lifetime and grows in face value as premiums and cash accumulate.
coverage for entire life but premiums are higher than whole life because premiums are paid for a set number of years or until a set age
allows adjustments of premium, face value, and level of protection
premiums are fixed, but face amount varies with investment results