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Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an ...
Insurance, generally, is a contract in which the insurer agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the insurance premium). [2]
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy ...
Getting familiar with them lets you choose the best health insurance for your needs. Part A: Hospital Services Medicare Parts A and B are run by a federal agency called the Centers for Medicare ...
Medicare Part B, also known as medical insurance, covers outpatient preventative, diagnostic, and treatment services related to your health conditions. There is an annual deductible and a monthly ...
Medigap is extra health insurance that you buy from a private company to pay health care costs not covered by Original Medicare, such as co-payments, deductibles, and health care if you travel ...
A health maintenance organization, or an HMO, is a common type of health insurance plan. If you’re a member of an HMO, your insurance company agrees to pay for your health care when you use a ...
Preventive health insurance is exactly what it sounds like: a plan that covers care received in order to prevent the onset of illness. Historically, most plans have covered preventive care at ...