Health Insurance Plans

Health Insurance Plans

Health Insurance Plans benefits an insured who is unable to work because of disability. The benefit is payable under a disability income policy or a provision of some other policy, such as a life insurance contract.

The loss of or loss of use of specified members of the body resulting from accidental bodily injury.

Directly Standardized Mortality Rate

The directly standardized mortality rate modifies the crude death rate to take into account. The age structure of the study group in question. It is the crude death rate that would be exhibited by a standard population.

If that standard population exhibited the agespecific death rates of the study group. So, Standardized mortality ratio(the number of deaths observed in a particular population) to (the number of deaths.

That would have occurred in the particular population had the age-specific mortality of the standard population applied.

Health Management Reinsurance

Disaster Management Reinsurance technology is also seen as a disaster management technique to provide protection to properties. People when the natural catastrophe of earthquakes seaquakes tsunamis occur. Double Indemnity is an extension afforded under a life insurance policy.

Whereby the insurer agrees to provide accidental death coverage carrying double the benefit of life coverage.

Domestic Insurance Company

An insurance company organized or domiciled in a given state is referred to in that state as a domestic carrier. Exercising extreme care and caution in carrying out tasks or duties.

For example, in the case of fire insurance insured takes all possible measures or steps to minimize loss or reduce loss in case of breaking out a fire.

Health Non-life insurance.

Earned Premium which falls actually or technically due to the insurer upon expiry of the policy period (usually one year) or part of the policy period in case of non-life insurance. It is derived from the earning capacity and the financial dependence of other who lives on that earning capacity.

Employee Benefits Programme. In this arrangement part or all of the premiums are paid by the employer.

Health Employer’s Liability Insurance

This insurance provides protection for the employer for those arising out of and in the course of employment which were not covered under worker’s compensation law. Engineering Insurance dealing with factory plants, machinery, equipment, etc.

Types Insurance

There are various types of engineering insurance, namely: (1) Boiler Explosion insurance, (2) Machinery Breakdown insurance (MBD), (3) Deterioration Stock(DOS) Insurance (4)Contractor’s All Risk insurance, etc.

An additional piece of paper, not a part of the original contract, which cites certain terms and becomes a legal part of that Health Insurance Plans contract. However, life insurance contracts, are accomplished through the use of riders, which are similar to endorsements.

Provides the Health Insurance

A form of life insurance that provides for the face amount attaching bonuses but,If any time of maturity of the policy or at the time of death of the insured (compensation paid to deceased’s dependents).Endowment Assurance Contract.

The sums assured payable on. An endowment assurance is a combination of a term assurance and a pure endowment assurance.

Entering Inwards

The reporting of the vessel’s rival in port by the master at the custom house. Permission to commence discharging is obtained. Errors and Permanent health insurance type of professional liability.

Health Insurance Plans that indemnify insured professionals including but not limited to lawyers, insurance agents, brokers, accountants, real estate agents, architects and engineers, adjusters, directors, trustees, etc. for losses sustained because of their errors or oversights in the course of their duties.

Health risk insurance

In the case of Health risk insurance for a project to be completed in five years the policy sum insured is gradually increased with the progress of construction work of the project and the liability amount is escalated accordingly.

The escalation clause implies insurance cover for higher liabilities to take care of values of risks in the course of completion of construction plus factors of inflation etc.

Health Export Credit Insurance

This insurance is specifically designed and used in the case of the export of goods from one country to another.

This Health Insurance plan protects the finances. Permanent health insurance interests and guarantees the exporter payment of losses in the event of default on the part of the importer to fulfill its financial commitment but, obligation under the contract.

Various Reasons Insurance

It may happen due to various reasons namely (1) delay in reaching the goods to the buyer due to war, civil strife, etc. (2) refusal of the buyer to receive goods due to a fall in the price of the goods in buyer’s market (3) financial insolvency of the buyer (4) currency fluctuation causing likely financial loss to the exporter.

It has the same effect as in the case of a deductible. But it is usually small in value compared to the deductible which is deducted from the settlement of each and every claim.

Expected Death Staring (EDS)

This is the amount that the life insurance company expects to pay extra to the year-end reserve for the policy. So, the executor is a person or entity appointed by the court to carry out the provisions of a will.

The court will appoint the person named in the will as executor, provided that person consents and qualifies. Express specific authority given in writing to the agent in an agency agreement.

Express Duty

However, Almost all contracts will have some written conditions relating, to the duties and responsibilities of the insured which must be complied with by the insured. A trust is created or declared in express terms, usually in writing.

Expenses incurred in order to speed up repair or replacement (e.g. air freight costs)in order to reduce the amount of loss by a peril covered in a policy. Most commonly used in connection with (1) Erection All Risk insurance, (2) Machinery Breakdown insurance, etc.

Excess of Loss Reinsurance (XOL)

A contract between an insurer and a reinsurer. Whereby the insurer agrees to pay a specified portion, the claim, and the reinsurer agrees to pay. The claim is permanent health insurance above that amount. Ex-Factory or Ex-Works.This is the basic price of the goods at the exporter’s warehouse or at the place of purchase. So, No other charges are included.

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