Terms with Category Insurance
- Policy Illustration — Definition,
- An outline of how a policy will perform under various conditions over a period of time.
- Policy Loan — Definition,
- A loan where a life insurance policyholder's death benefit is used as collateral.
- Policyholder Dividend Ratio — Definition,
- A ratio comparing the dividends paid to policyholders to net premiums earned by the insurer.
- Policyholder Surplus — Definition,
- A method of determining an insurance company's relative financial strength by finding the difference between the company's assets and liabilities.
- Pre-existing Condition (PRE-X) — Acronym,
- A medical condition that's occurrence precedes the writing of an insurance policy.
- Pre-paid Expenses — Definition,
- also called prepaid items or prepaids -- Recurring costs such as taxes, insurance and interest that are paid at closing and which cannot be financed.
- Pre-paid Insurance — Definition,
- A insurance policy where insurance premiums are all paid in advance, normally offered in one year terms.
- Preferred Auto — Definition,
- Auto insurance for those with better driving records.
- Preferred Provider Organization (PPO) — Acronym,
- A health care program that gives its members a level of freedom and independence when choosing health care options.
- Premium — Definition,
- A payment made to an insurance company for insurance coverage.
- Premium Balances — Definition,
- A ledger kept by insurance companies recording insurance premiums.
- Premium-to-Surplus Ratio — Definition,
- A method used to determine an insurance company's financial stability.
- Premiums Written — Definition,
- A sum of the premiums from all the policies that a company has written in a given period of time.
- Primary Care Physician — Definition,
- A doctor who administers or arranges the majority of an individual's health care needs.
- Principal, Interest, Taxes, and Insurance (PITI) — Acronym,
- Acronym for the elements of a mortgage payment: principal, interest, taxes and insurance.
- Private Health Services Plan (PHSP) — Acronym, Canada, Important,
- A method for businesses to provide health benefits for their employees that is both tax deductible for the business and non taxable for the employee.
➥ Provides tax-deductible health and dental benefits in Canada. - Private Healthcare — Definition,
- Health services no provided by the government, often paid out of pocket.
- Private-Passenger Auto Insurance Policyholder Risk Profile — Definition,
- A system for sorting drivers by their driving records and how likely they are to cause a loss for an insurance company.
- Professional Liability Insurance (PLI) — Acronym, Very Important,
- Insurance that covers professionals for liabilities occurring due to negligence or harm in a product or service they provide.
- Property Insurance — Definition,
- Insurance that provides coverage for damages to property from a number of perils.
- Province of Domicile — Definition,
- The province where an individual lives or intends to live permanently or for a long term, regardless of the individual's current location.
- Qualifying Event — Definition,
- An event that qualifies for insurance coverage.
- Re-entry — Definition,
- The option to renew coverage at the end of a term, generally with level premiums.
- Reciprocal Insurance Exchange — Definition,
- A group of individuals, firms and corporations that mutually insure each other.
- Reinstatement — Definition,
- Resuming an insurance policy that has either lapsed or been terminated.
- Reinsurance — Definition,
- The process of one insurance company sharing liabilities from an insurance policy with another insurance company in order to lessen exposure, or in other words, insurance for insurers.
- Reinsurance Ceded — Definition,
- The amount of insurance that is reinsured with another insurance company.
- Reinsurance Recoverables to Policyholder Surplus — Definition,
- A method used to determine how much an insurer relies on reinsurance.
- Reinsurer — Definition,
- An insurance company that provides coverage for a portion of another insurance company's risk.
- Renewable Term — Definition,
- An insurance policy that is can be renewed without needing the policyholder to re-qualify for insurance coverage.
10.
Policy Illustration -
Primary Care Physician
Primary Care Physician
