Unit 2- Income And Career Planning Flashcards
(27 cards)
The contract between insurance company and a person by which that person joins a risk sharing group
Policy
Group of healthcare providers the band together to provide health services for set fees
Preferred provider organization
Outlay of money, for example, by depositing it in the bank, or by buying stock in a company, with the object of making a profit
Investments
A group health insurance plan that offers prepaid medical care to its members
Health maintenance organization
The permanent policy for what you pay a specified premium each year for the rest of your life
Whole life
The relationship of prices to the quantities a good or service sellers are willing to offer any point in time
Supply
The amount of money spent on food, clothing, accommodations, and other basic necessities.
Cost of living
The set amount that a policyholder must pay per lost an insurance policy, or your portion of a medical bill
Deductible
Working for yourself
Self employment
Cash inflow or the money you receive
Income
Insurance policy on a persons life.
Life insurance
Reasons for life insurance
Reasons for purchasing life insurance include: take care of the immediate expenses, upon the death of that person funeral costs, it helps a feeling maintain an adequate level of living if the wage earner dies, and it can pay off the mortgage on a home is there sufficient insurance
Insurance that provides protection against loss of life for only a specified term, or period of time, also called temporary insurance
Term life
The relationship between prices and the corresponding quantities of a good or service
Demand
Diction against possible financial loss
Insurance
Compensation in addition to direct wages or salaries, such as a company car, house loans, medical insurance, paid holidays, pension schemes, subsidized meals.
Fringe benefits
Gives an average cost community rating of 100 and lower Index indicated a lower cost-of-living which is better
Index form
The person named in a life insurance policy as the recipient of the insurance money in the event of the insureds death. With health insurance it is the subscriber or dependent who is eligible for service under a health plan
Beneficiary
Coverage that provides regular cash income when you are unable to work due to pregnancy, non-work-related accident, or illness.
Disability insurance
Someone who sets up and finances new commercial enterprises to make a profit
Entrepreneur
This see a policyholder pays for insurance
Premium
A form of protection that eases they financial burden people may experience as a result of illness or injury
Health insurance
Do you match of money the insurance company agrees to pay a claimant a beneficiary under the specific policy terms
Benefits
Period of one month following the premium due date during which a policy remains in effect. If the premium is not paid, the policies canceled if it is a Health, disability income or term life plan
Grace period
