Health Care and Life Insurance Flashcards Preview

Financial Counseling > Health Care and Life Insurance > Flashcards

Flashcards in Health Care and Life Insurance Deck (10):
1

What is a PPO?

Preferred Provider Organization - providers that contract with a health insurance company

2

What is stated as a proportion or percentage rather than a dollar amount when referring to health care share costs?

Coinsurance

3

What is a variation of coinsurance that requires the insured to pay a specific dollar portion of the specific covered expense?

Copayment

4

Which insurance provides reimbursement costs associated with intermediate and custodial care in a nursing facility or at home?

Long Term Care Insurance

5

A document stating one's specific wished concerning medical treatments in an emergency.

Living Will

6

What is the name of the person or organization that receives life insurance proceeds?

Beneficiary

7

Which type of life insurance is the least expensive. Term or whole/universal?

Term

8

What is a more accurate way to determine life insurance needs?

Needs-based

9

What is a health care proxy?

Legal document in which you can designate another person to make health care decisions on your behalf if you are rendered incapable of making those decisions for yourself.

10

Define Durable Power of Attorney

Appoints someone to handle legal and personal finances in advance of incapacitating medical conditions.