PBOF 5.02

I Will Understand Risk Management And Insurance

9 Types Of Insurance

Worker's Compensation Insurance

  • Protection is given to the employees who are hurt on the job or may become sick because of the job
  • Requires drug testing before payment is made
Health Insurance

  • Insurance against loss because of sickness and ill health.
Hospital Insurance

  • Known as medical insurance
  • Most or all of the charges during your stay in the hospital are covered
Surgical Insurance

  • All or part of the surgeon's fees for an operation are covered
  • Health insurance coverage
Regular Medical Insurance

  • Covers the fees for the nonsurgical care given in the doctor's office, the hospital, or the patient's home.
  • Major medical insurance
Comprehensive Medical Policy

  • The features of hospital, surgical, regular, and major medical insurances are combined.
  • Most common group health insurance policy
Dental Insurance

  • Contains deductible and coinsurance to reduce the cost of premiums
  • Covers exams, X rays, cleaning and filling.
  • Dental injuries resulting from accidents are covered
  • Covers part of complicatred dental work like crowns and bridges.
Vision Care Insurance

  • Eye exams, prescription lenses, frames, and contacts are covered.
  • Some plans cover the cost of laser eye surgery that erases the need for glasses.
Life Insurance

  • Insurance that pays out a certain amount of money either on the death of the insured person or after a set period.