NJ Accident and Health insurance
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Terms in this set (73)
Refers to the broad field of
insurance plans that provide
Health
protection against the financial
Insurance
consequences of illness, accident,
injury, and disability.
, Standard Healthcare Insurance.
Includes plans that cover hospital
Medical
care, surgical expenses, doctors
Expense
visits, and outpatient care, along
Insurance
with most of your other basic
medical expenses.
Provides replacement income
when wages are lost due to
Disability disability. Does not cover medical
Income expenses associated with the
Insurance disability, but provides a
guaranteed flow of income when
the person is disabled.
Provides a beneficiary with a lump
Accidental
sum death benefit in the event of
Death and
an accidental death of the insured.
Dismembermen
Also pays a living benefit for
t insurance
dismemberment.
A legal agreement that specifies
Disability buy- how a business will pass between
sell agreement owners when one of the owners
has passed or becomes disabled.
, is sold to small business owners
who must continue to meet
Business overhead expenses such as rent,
Overhead utilities, and payroll.
Expense Reimburses business owners for
Insurance the actual overhead expenses
incurred while the business owner
is totally disabled.
Specifies who will purchase a
disabled owners interest and
Disability
legally obligates that person or
Buyout
party to purchase the the business
interest of the disabled partner.
both the employees and the
Contributory employer pay part of the
plan premiums and 75% of all eligible
employees must participate
Non- employer pays all the premium-
contributory 100% of the employees must
plan participate.
members of the group have the
Conversion
ability to convert their policy to an
Privilege
individual plan.
Terms Complete Questions and
Correct Answers | Already Graded
A+ | Verified Answers | Just
Released
Save
Terms in this set (73)
Refers to the broad field of
insurance plans that provide
Health
protection against the financial
Insurance
consequences of illness, accident,
injury, and disability.
, Standard Healthcare Insurance.
Includes plans that cover hospital
Medical
care, surgical expenses, doctors
Expense
visits, and outpatient care, along
Insurance
with most of your other basic
medical expenses.
Provides replacement income
when wages are lost due to
Disability disability. Does not cover medical
Income expenses associated with the
Insurance disability, but provides a
guaranteed flow of income when
the person is disabled.
Provides a beneficiary with a lump
Accidental
sum death benefit in the event of
Death and
an accidental death of the insured.
Dismembermen
Also pays a living benefit for
t insurance
dismemberment.
A legal agreement that specifies
Disability buy- how a business will pass between
sell agreement owners when one of the owners
has passed or becomes disabled.
, is sold to small business owners
who must continue to meet
Business overhead expenses such as rent,
Overhead utilities, and payroll.
Expense Reimburses business owners for
Insurance the actual overhead expenses
incurred while the business owner
is totally disabled.
Specifies who will purchase a
disabled owners interest and
Disability
legally obligates that person or
Buyout
party to purchase the the business
interest of the disabled partner.
both the employees and the
Contributory employer pay part of the
plan premiums and 75% of all eligible
employees must participate
Non- employer pays all the premium-
contributory 100% of the employees must
plan participate.
members of the group have the
Conversion
ability to convert their policy to an
Privilege
individual plan.
