Health Insurance Terms - Life Insurance Terms | Cheap-Credit-Cards.org

by Susan

Care, with limits.

Accelerated Death Benefits – A life insurance policy option that provides policy proceeds to insured individuals over their lifetimes, in the event of a terminal illness. This is in lieu of a traditional policy that pays beneficiaries after the insured’s death. Such benefits kick in if the insured becomes terminally ill, needs extreme medical intervention, or must reside in a nursing home. The payments made while the insured is living are deducted from any death benefits paid to beneficiaries. Long-Term Care Insuarance - Long-term care (LTC) insurance pays for services to help individuals who are unable to perform certain activities of daily living without assistance, or require supervision due to a cognitive impairment such as Alzheimer’s disease. LTC is available as individual insurance or through an employer-sponsored or association plan.

Assigned Risk Plans – Facilities through which drivers can obtain auto insurance if they are unable to buy it in the regular or voluntary market. These are the most well-known type of residual auto insurance market, which exist in every state. In an assigned risk plan, all insurers selling auto insurance in the state are assigned these drivers to insure, based on the amount of insurance they sell in the regular market.

A-Share Variable Annuity - This is a form of variable annuity contract where the contract holder pays sales charges up front rather than eventually having to pay a surrender charge.

Annuity Contract – An agreement similar to an insurance policy for other insurance products such as auto insurance .

Comprehensive Coverage- Pays for loss or damage to your covered vehicle caused by any event other than collision. This includes damages due to events such as fire, theft, windstorm,...

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