Vocab

2. An estimate of the cost of insurance, based on information supplied to the insurance company by the applicant.
5. When services, usually in healthcare, are paid by both the individual and the insurance company. Most notebly doctor visits and prescription drugs.
8. The written contract of insurance.
9. The amount of money an insurance company charges for insurance coverage
10. The policyholder - the person(s) protected in case of a loss or claim.
11. A licensed person or organization paid by you to look for insurance on your behalf.
15. A temporary or preliminary agreement that provides coverage until a policy can be written or delivered.
16. The company refuses to accept the request for insurance coverage.
17. Damage to another person's property. The purpose of liability insurance is to cover property damage to a third party resulting from the negligent or intentional acts of an insured.
18. The insurance company.
19. A licensed person or organization authorized to sell insurance by or on behalf of an insurance company.
20. Maximum amount a policy will pay either overall or under a particular coverage.
21. The restoring of a lapsed policy to full force and effect. The reinstatement may be effective after the cancellation date, creating a lapse of coverage. Some companies require evidence of insurability and payment of past due premiums plus interest.
22. Notice to an insurer that under the terms of a policy, a loss maybe covered.

1. The maximum amount a policy will pay, either overall or under a particular coverage.
3. Certain causes and conditions, listed in the policy, which are not covered.
4. Coverage on the risks associated with driving or owning an automobile. It can include collision, liability, comprehensive, medical, and uninsured motorist coverages.
6. Coverage for the insured in the event that the insured's negligent acts and/or omissions result in losses in connection with the use, ownership, or maintenance of aircraft.
7. Usually known as an endorsement, a rider is an amendment to the policy used to add or delete coverage.
12. Amendment to the policy used to add or delete coverage. Also referred to as a "rider."
13. The amount of the loss which the insured is responsible to pay before benefits from the insurance company are payable. You may choose a higher deductible to lower your premium.
14. The process of selecting applicants for insurance and classifying them according to their degrees of insurability so that the appropriate premium rates may be charged. The process includes rejection of unacceptable risks.