Important Insurance Terms
- Premium. This is the actual cost of your insurance plan. ...
- Deductible. ...
- Co-Pay. ...
- Coinsurance. ...
- Provider Network. ...
- Usual, Reasonable and Customary. ...
- Pre-existing Conditions. ...
- Beneficiary.
What are common terms used for life insurance?
Home or property insurance, life insurance, disability insurance, health insurance, and automobile insurance are five types that everyone should have.
What are the 5 most common types of insurance?
There are, however, four types of insurance that most financial experts recommend we all have: life, health, auto, and long-term disability."