gfh

1. Insurance Vocab
By: ReJon Barksdale

2. Claim
a demand or request for something considered one's due.

3. Liability
the state of being responsible for something, especially by law.

4. Coverage
the amount of protection given by an insurance policy.

5. Policy
a course or principle of action adopted or proposed by a government,
party, business, or individual.

6. Deductible
(in an insurance policy) a specified amount of money that the insured
must pay before an insurance company will pay a claim.

7. Policy Holder
a person or group in whose name an insurance policy is held.

8. Insured
covered by insurance.

9. premium
an amount to be paid for an insurance policy.

10. Insurer
a person or company that underwrites an insurance risk; the party in
an insurance contract undertaking to pay compensation.

11. Probability
A priori probability can most easily be described as making a
conclusion based upon deductive reasoning rather than research or
calculation.

12. Insurance
a practice or arrangement by which a company or government agency
provides a guarantee of compensation for specified loss, damage,
illness, or death in return for payment of a premium.

13. Risk
a situation involving exposure to danger