Business Math Chapter 11 Vocab

4. a person who derives advantage from something, especially a trust, will, or life insurance policy.
6. a type of health insurance plan that usually limits coverage to care from doctors who work for or contract with the HMO.
7. a form of permanent life insurance that gives policyholders flexibility in paying premiums, a cash savings component, and a death benefit.
9. insurance that pays out a sum of money either on the death of the insured person or after a set period.
11. a type of insurance in which the insured pays a share of the payment made against a claim.
12. provides coverage throughout the life of the insured person.
13. a contribution made by an insured person toward the cost of medical treatment or other services.

1. a type of permanent life insurance where you pay premiums over a fixed amount of time rather than over the course of your entire life.
2. a contract between you and an insurance company for a defined period
3. a specified amount of money that the insured must pay before an insurance company will pay a claim.
5. a form of permanent life insurance that features a cash value savings component.
6. a contract that requires your health insurer to pay some or all of your health care costs in exchange for a premium.
8. a financial term used to describe the nominal or dollar value of a security, as stated by its issuer.
10. a type of health plan that contracts with medical providers, such as hospitals and doctors, to create a network of participating providers.