I will understand Risk Managment & Insurance.
- Policy- Written contract or certificate of insurance.
- Premium- Payment for insurance.
- Insurer- A person or company that underwrites an insurance risk; the party in an insurance contract undertaking to pay compensation.
- Insured- A person or organization covered by insurance.
- Claim- Demand for payment in accordance with an insurance policy.
- Co-pay- An insurance copay is the amount of money or percent of charges for Basic or Supplemental Health Services that a member is required to pay, as set forth by their health plan.
- Deductible- The portion of a claim under an insurance policy that you must pay before the insurance company pays the balance.
- Face amount- Value of a life insurance policy.
- Hospital Insurance- Helps pay for inpatient hospital care, inpatient care in a skilled nursing facility, home health care, and hospice care.
- Surgical Insurance- Covers all surgeons fee's.
- Regular Medical Insurance- Covers non-surgical fee's.
- Comprehensive Medical Policy-Combination of several coverages to protect the insured,combines the basic hospital plan with major medical insurance to cover medical expenses and miscellaneous expenses.
- Dental Insurance- A plan that financially assists in the expense of treatment and care of dental disease and accidents to teeth.
- Vision Care Insurance- A type of health insurance plan under which vision care, such as eye examination, and vision aids, such as glasses or contacts, are at least partially covered.