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Mar 10, 2020 · Can't make heads or tails of your insurance statement? Check this list of abbreviations for health and automobile insurance claims, policies, and providers.
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- Premiums. When you purchase an insurance policy, you'll be required to make regular payments, known as premiums. These payments are typically made monthly or annually and are the cost of maintaining your insurance coverage.
- Deductible. Think of a deductible as the money you have to shell out from your own pocket before your insurance kicks in to help cover your expenses. It's like the upfront cost you need to cover before your insurance really starts working for you.For example, if you have a $500 deductible and make a claim for $1,000, you'll need to pay $500, and your insurer will cover the remaining $500.
- Policyholder. The policyholder is the person who owns an insurance policy. This individual is responsible for paying premiums and making claims under the policy.
- Coverage Limit. Every insurance policy has a coverage limit, which is the maximum amount your insurer will pay out for a covered claim. It's crucial to understand your policy's limits to ensure you have adequate coverage.
This page provides a glossary of insurance terms and definitions that are commonly used in the insurance business. New terms will be added to the glossary over time. The definitions in this glossary are developed by the Research and Actuarial Department staff based on various insurance references. These definitions represent a common or general ...
The provision in a group life and/or disability insurance policy which prevents the insurance company from disputing the validity of: an insurance policy once it has been in force for a specified period of time (e.g., two years) as long as premiums are paid, except in the case of fraud.
OEG is listed in the World's most authoritative dictionary of abbreviations and acronyms. OEG - What does OEG stand for? The Free Dictionary. https://acronyms ...
OEG: Organization and Equipment Guide: OEG: Operational Exposure Guide: OEG: Old English Game (chicken breed) OEG: Oberrheinische Eisenbahn-Gesellschaft (German Railroad Company) OEG: Outdoor Education Group (Australia) OEG: Olfactory Ensheathing Glia: OEG: Occluded Eye Gunsight (gun accessory) OEG: Operations Evaluation Group: OEG: Office of ...
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hat is the NAIC and what does it do?The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District o. Columbia, and five U.S. territories. The organization was created in 1871 to assist state ...
