Life insurance

Life insurance

Industry: Insurance

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Life insurance

guaranty association

Insurance; Life insurance

An organization of life insurance companies within a state responsible for covering the financial obligations of a member company that becomes insolvent.

hazard

Insurance; Life insurance

A circumstance that increases the likelihood or probable severity of a loss. For example, the storing of explosives in a home basement is a hazard that increases the probability of an explosion.

Bungee jumping, scuba diving, horse riding and other activities not generally covered by standard insurance policies. For insurers that do provide cover for such activities, it is unlikely they will ...

health maintenance organization (HMO)

Insurance; Life insurance

Prepaid group health insurance plan that entitles members to services of participating physicians, hospitals and clinics. Emphasis is on preventative medicine, and members must use contracted ...

health reimbursement arrangement

Insurance; Life insurance

Owners of high-deductible health plans who are not qualified for a health savings account can use an HRA.

health savings account

Insurance; Life insurance

Plan that allows you to contribute pre-tax money to be used for qualified medical expenses. HSAs, which are portable, must be linked to a high-deductible health insurance policy.

hurricane deductible

Insurance; Life insurance

Amount you must pay out-of-pocket before hurricane insurance will kick in. Many insurers in hurricane-prone states are selling homeowners insurance policies with percentage deductibles for storm ...