Health Insurance
This is a government funded type of managed care for low income individuals
What is Medicaid?
This will protect against the economic loss of death for the lifetime of the insured
This type of risk relates to losses that are definite and measurable
What is Insurable Risk?
This type of auto insurance covers expenses when you are in an accident with an individual who does not have insurance
Most employer provided disability insurance plans provide coverage for this general time frame
What is Long-Term?
This type of health plan is required to qualify for an HSA
This guarantees payment of death benefit if the insured dies during a specified term
What is Term Life Insurance
Characters like Flo, and the Aflac duck try to discourage people from doing this, an action in which an entity chooses to take on the risk for themselves
What is Self-Insurance?
Type of homeowner insurance that covers additional living expenses if your home is uninhabitable
What is Coverage D/Loss of Use?
Disability insurance benefit payments typically have this tax treatment
What is Tax-Free?
This part of Medicare requires you to participate in another part of Medicare as well
What is Medicare Part D?
This type of life insurance combines a death benefit with a savings portion. Cash values and dividend build up can be used to make premium payments
What is Permanent Life Insurance
This conceptual law enables insurance companies to group risks together so they can assign a monetary amount to losses
What is the Law of Large Numbers?
Umbrella policies cover catastrophic legal claims or judgements and should be a minimum of
Disability insurance benefit payments are typically limited to this percentage of gross income
What is 60%?
This piece of legislation requires insurance companies to cover certain minimum standards for all applicants
What is the Affordable Care Act?
This is an additional contract provision that provides additional benefits to insurance policy holder at additional cost
What is Insurance Rider?
When an insurance company saves you 15% or more on your car insurance they are offering you this, a concept in which they reimburse customers for their losses
What is Indemnity?
This type of vehicle is excluded from personal auto policies
What is Vehicles that Transport Goods (Commercial)?
Long-term care insurance includes this type of service
What is Personal Care / Service required by individual unable to perform daily living activities (at least 90 days)?
This type of care plan is a hybrid arrangement combining aspects of an HMO and PPO
What is a Point of Service Plan?
This insurance policy clause is used when a life insurance contract is surrendered or placed on other than a premium-paying basic
As accountants know, our premiums for insurance tend to be lower than other professions due to our more safe, and calculated nature. Insurance companies charging higher premiums to more dangerous people is known as this type of conceptual selection
Most homeowner’s policies exclude this, but this coverage can be purchased separately
Premiums and unreimbursed costs related to long term care are deductible, but subject to this percentage threshold of your taxable income
What is 10%?