Term insurance. We've curated additional glossaries of insurance terms and definitions - to help you better understand the often confusing legal language of insurance. Glossary of Health Coverage and Medical Terms Page 1 of 4 This glossary has many commonly used terms, but isn’t a full list.These glossary terms and definitionsare intended to be educational and may be different from the terms and definitions in your plan. Commercial Automobile Insurance Manual Last revision date: 11/1/09 Page: R-7 Print date: 11/1/09 NON-FLEET PRIMARY CLASSIFICATIONS RATING FACTORS AND STATISTICAL CODES RADIUS CLASS SIZE CLASS BUSINESS USE CLASS Local Up to 50 Miles Intermediate 51 … 1) Most commonly, "preauthorization" and "precertification" refer to the process by which a patient is pre-approved for coverage of a specific medical procedure or prescription drug. Car Insurance. These are terms that are often used interchangeably, but which may also refer to specific processes in a health insurance or healthcare context. This is specialized medical care. CAR INSURANCE. It also has a precise definition under the Health Insurance Portability and Accountability Act of 1996 that exempts from certain requirements insurers that sell insurance to small employers only through Claim Request by an insured for the insurance … An introduction to insurance, the different types of insurance, and terminology. Also see the Health And Life Insurance Glossary , Property And Casualty Insurance Glossary , Small Business Insurance Glossary and Terminologies Used In Insurance And Their Meanings . This is a type of life insurance. The term refers to the fact that the company carries (or assumes) certain risks for the policyholder. New terms will be added to the glossary over time. Insurance company that actually underwrites and issues the insurance policy. Learn about car insurance monthly premiums and answer the questions about choosing car insurance. ♦ Association Health Plans – This term is sometimes used loosely to refer to any health plan sponsored by an association. This page provides a glossary of insurance terms and definitions that are commonly used in the insurance business. It involves complex procedures. The definitions in this glossary are developed by the NAIC Research and Actuarial Department staff based on various insurance … It is in effect only during the period, or term, for which premiums are paid. While this is sometimes used synonymously with a co-pay, the arrangements are different: While a co-pay is a fixed amount the patient owes, in a co-insurance, the patient owes a fixed percentage of the bill. Tertiary care. Casualty Liability or loss resulting from an accident. Accounting is a very necessary subject in the field of commerce. A type of insurance arrangement between the payer and the patient that divides the payment for medical services by percentage. People usually need this care for a long time. Size Class — in commercial automobile insurance, the type and weight of the automobile—that is, gross vehicle weight (GVW) for trucks, gross combined weight … It does not build up cash value. It is very hard to imagine business without accounting. Accounting terminology gives the complete description of the terms that are used and it is important to know the accounting terminology before delving into the subject. An introductory lesson on basic car insurance terminology.
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