Reference

A professional who uses math and statistics to analyze risks and help insurance companies set fair and sustainable premium rates.

The part of an insurance policy that summarizes key details like the policyholder's name, coverage limits, premium costs, and effective dates.

A summary section of an insurance policy that lists key details like coverage limits, deductibles, premiums, and policy dates.

High Deductible Health Plan is a health insurance policy where you pay lower monthly premiums but must pay a larger portion of your medical costs out-of-pocket before the insurance kicks in. It is like having a car insurance policy that only covers major accidents, requiring you to pay for routine repairs yourself.

The amount of money an individual or business pays for an insurance policy periodically.

The termination of an insurance policy's coverage because the policyholder failed to pay the required premiums within the allowed time.

A measure of an insurer's performance calculated by dividing the claims paid by the total premiums collected.

Health Insurance Marketplace Subsidies — Government financial assistance that lowers the monthly premium costs for health insurance plans purchased through the federal or state exchanges.

An insurance fee paid by borrowers, typically on FHA loans, to protect the lender in case of default. It usually consists of both an upfront payment and a monthly fee included in the mortgage payment.

The current market price of an option contract paid by the buyer to the seller.

The regular payment an individual or business makes to an insurance company to keep a policy in effect.

The grouping of many people together so that the high costs of a few can be covered by the collective premiums of the group.

A flexible permanent life insurance policy that allows the owner to adjust premium payments and death benefits over time.

A provision that allows the policyholder to stop paying premiums while remaining covered if they become seriously ill or disabled.