insurance terms

What Are The Terms Used In Insurance?

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What Are The Terms Used In Insurance? 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 the important terms used in insurance? Premium. Premium is the total or the final amount paid on

What Is The Meaning Of Insurance In Simple Words?

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What Is The Meaning Of Insurance In Simple Words? Insurance is a term in law and economics. It is something people buy to protect themselves from losing money. … In exchange for this, if something bad happens to the person or thing that is insured, the company that sold the insurance will pay the money