Facility that provides short periods of stay for a terminally ill person in a homelike setting for either direct care or respite. A "terminally ill" person has a life expectancy of six months or less. A hospice provides continuous care. Some health insurance plans pay benefits in full up to a maximum without a deductible for charges incurred for a terminally ill person while in a hospice care program. Also provided are bereavement benefits up to a maximum (usually $200) per family unit.
Popular Insurance Terms
Contract providing a monthly income benefit to members of a group of employees. A group annuity has the same characteristics as an individual annuity, except that it is underwritten on a ...
SCHEDULE provision of the new York insurance code and regulations under which the life insurance company must file with the Insurance Commissioner all expenses associated with selling new ...
The term pro rata comes from Latin and translates to in proportion, proportionally, the proportion of, proportionately determined, or according to a specific rate. It is often used in legal ...
Separate legal entity formed by one or more physicians and one or more hospitals whose objective it is to negotiate contracts with payer organizations. The PHO provides financial, ...
Method of reducing an employee pension according to IRS procedures: Offset method restricted to a DEFINED BENEFIT PLAN under which a mandatory percentage of the monthly Social Security ...
Combination of contributions of many investors whose money is used to buy stocks, bonds, commodities, options, and/or money market funds, or precious metals such as gold, or foreign ...
Insurance company whose domicile is in a state other than the one in which the company is writing business. ...
Statement showing assets and liabilities of an individual. ...
Highly visible form of marketing communication with the public with these objectives: (1) encourage agents and brokers to sell insurance company products, (2) predispose customers to be ...
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