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Definitions (36)
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accident and health insurance
Coverage for accidental injury, accidental death, and related health expenses. Benefits will pay for preventative services, medical expenses and catastrophic care, with limits.
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accidental death and dismemberment benefit
A supplementary life insurance policy benefit that provides for an amount of money in addition to the policy's basic death benefit. This additional amount is payable if the insured dies as the result of an accident or if the insured loses any two limbs or the sight in both eyes as the result of an accident.
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actual cash value
A form of insurance that pays damages equal to the replacement value of damaged property minus depreciation.
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accident and sickness insurance
Term used to denote a personal accident insurance policy, which is extended to cover sickness benefits also. However benefits relating to sickness extension will be restricted to weekly compensation for temporary total disablement and for reimbursement of medical expenses towards treatment in a hospital or a nursing home for all sickness other than [..]
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age limits
Stipulated minimum and maximum ages below and above which the company will not accept applications or may not renew policies.
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aids
Acquired immune deficiency syndrome.
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assignee
Assignee is the person to whom the benefits under a life policy are assigned.
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agent
An insurance company representative licensed by the state, who requests, negotiates or effects contracts of insurance, and provides service to the policyholder through the insurer.
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beneficiary
The person(s) or entity(ies) (e.g. corporation, trust, etc.) named in the policy as the recipient of insurance proceeds upon the death of the insured. (life)
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bail bond
Covers the bail amount, applicable if arrested or detained by the police or judicial authorities for any bail able offence while abroad.
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