Mississippi Health and Life Insurance | 200 Questions and Answers(A+ Solution guide)

Accident - An unplanned, unforeseen event which occurs suddenly and at an unspecified place. Accident Insurance - A type of insurance that protects the insured against loss due to accidental bodily injury Accidental Death and Dismemberment - An insurance policy which pays a specified amount or a specified multiple of the insured's benefit if the insured dies, loses sight, or loses two limbs due to an accident Accidental Death Benefits - A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death Actual Charge - The amount a physician or supplier actually bills for a particular service or supply Adhesion - A contract offereed on a take it or leave it basis by an insurer, in which the insured's only option is to accept or reject the contract. Any ambiguities in the contract will be settled in favor of the insured Admitted (Authorized) Insurer - An insurance company authorized and licensed to transact insurance in a paricular state Adult Day Care - A program for impaired adults that attempts to meet their health, social, and functional needs ins a setting away from their homes Adverse Selection - The tendency of risks with higher probability of loss to purchase and maintain insurance more often than the risks who present lower probability Aleatory - A contract in which participating parties exhange unequal amounts. Insurance contracts are aleatory in that the amount the insured will pay in premiums is unequal to the amount the insurer will pay in the event of a loss