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Insurance
Insurance is a promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Examples include car insurance, health insurance, disability insurance, life insurance, and business insurance.
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Insurance > Health insurance 
named peril policy
Health care; Managed care
A health insurance policy, such as cancer, where named perils are listed.
coinsurance (percentage participation)
Health care; Managed care
A health insurance principle under which the company insures only part of the potential loss, with the insured paying the other part. For instance, in a major medical policy, the ...
recurrent hospitalization provision
Health care; Managed care
A health insurance provision that specifies a period of time (usually 6 months) during which the recurrence of a disability from an accident or sickness is considered a ...
health plan purchasing cooperative (HPPC)
Health care; Managed care
A health insurance purchasing entity advanced by some health system reform proposals to enroll individuals, collect premiums, purchase enrollees’ insurance from participating ...
managed competition
Health care; Managed care
A health insurance system that bands together employers, labor groups, and others to create insurance purchasing groups; employers and other collective purchasers would make a ...
net profits
Health care; Managed care
A health insurance term broadly used to describe only the profits remaining aft er including all earnings and other income or profit and aft er deducting all expenses and charges ...
external quality review program
Health care; Managed care
A health insurance, managed care, or HMO initiative for determining the quality of medical care provided to plan members, by outside review organizations.
Sub-categories
- Car insurance (39)
- Commercial insurance (92)
- General insurance (136)
- Health insurance (5560)
- Home insurance (17)
- Life insurance (3867)
- Medicare & Medicaid (23018)
- Travel insurance (7)