Learn about the concept of 'Additional Insured' in general insurance terms. Discover how secondary beneficiaries, such as children, are added to policies and what that entails.
Understand the essentials of a mutual insurer policy, a type of coverage written by an insurer that operates without incorporated capital belonging to the policyholders yet remains an incorporated entity.
Discover the fundamental aspects of dependent coverage in health and life insurance, including eligibility for spouses and children, and applicable age limits.
Learn about the grievance procedure in health insurance, a process for policyholders to file complaints. Understand how to navigate and utilize this process effectively.
Explore the definition of a mutual insurer, an incorporated insurer that operates for the benefit of its policyholders, offering them dividends without incorporated capital.
Learn about the concept of Replacement Cost in Property Insurance, which covers the amount needed to replace your property with new items without factoring in depreciation.
Discover the concept of Member Month in health insurance, a metric indicating the amount of participants considered members each month. Learn its significance in health insurance policies and regulations.
Learn about the Insurance Guaranty Act, which ensures policyholders are protected in case their insurer becomes insolvent. This crucial act provides the necessary funds as a guaranty.
Learn about mixed insurers/companies in the insurance domain. Understand their structure of being owned by both stockholders and policyholders, and their scope in writing both life and health contracts.
A comprehensive overview of the concept of 'Class' in general insurance, which refers to a group of policyholders with similar characteristics grouped together for rating purposes.
Learn about the Net Amount at Risk in liability insurance, which is the difference between the face value of the policy and the reserve accumulated under the policy.
Explore the concept of utilization in health insurance, defined as the amount of use a health plan receives from a specific group of policyholders. Learn how it's measured and its impact on policy costs.
Discover the essential details of a health benefits package in health insurance, including the benefits offered to policyholders and how it impacts healthcare coverage.
