Facility that provides short periods of stay for a terminally ill person in a homelike setting for either direct care or respite. A "terminally ill" person has a life expectancy of six months or less. A hospice provides continuous care. Some health insurance plans pay benefits in full up to a maximum without a deductible for charges incurred for a terminally ill person while in a hospice care program. Also provided are bereavement benefits up to a maximum (usually $200) per family unit.
Popular Insurance Terms
Person who receives an income benefit from an annuity for life or for a specified period. ...
Percentage of first year's premium paid to compensate an insurance agent. This is known as the "First Years" to show how much new business the agent is generating, compared with renewal ...
Provision that funds a tax-qualified plan. Trust funds are the oldest, and still the most common, method of funding pensions. All contributions made by employer and employees are deposited ...
Sum provided by a disability income insurance that pays a multiple of the monthly indemnity to cover the costs associated with a retraining course attended by the insured wage earner when ...
Written evidence given to a policyowner by an insurance company or insurance agency that it has received a premium. ...
Future benefits to be paid to the policyholders and beneficiaries, assigned surpluses, and miscellaneous debts. These primary liabilities take the form of reserves, which must be listed on ...
Methods by which a home office underwriter chooses applicants that an insurer will accept. The underwriter's job is to spread the costs equitably among members of the group to be insured. ...
Protection in the event of accidental discharge, leakage, or overflow of water from plumbing systems, heating, air conditioning, and refrigerating systems, and rain or snow through broken ...
Same as term Office Burglary and Robbery Insurance: coverage for the office of a business, or an individual in a general office building or other structure. Includes burglary of a safe; ...
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