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1. Premium: Amount paid for coverage.
2. Deductible: Out-of-pocket amount before insurance pays.
3. Copayment (Copay): Fixed fee for covered services.
4. Coinsurance: Percentage paid after deductible.
5. Network: Group of contracted healthcare providers.
6. Out-of-Pocket Maximum: Maximum yearly cost.
7. Preauthorization: Approval for certain services.
1. Death Benefit: Paid to beneficiary upon death.
2. Premium: Cost of policy.
3. Beneficiary: Receives death benefit.
4. Policyholder: Owns the policy.
5. Term Life Insurance: Coverage for a set period.
6. Whole Life Insurance: Permanent with cash value.
7. Underwriting: Evaluates risk for premium rate.
1. Disability Benefit: Paid if unable to work.
2. Own Occupation: Pays if can't do own job.
3. Any Occupation: Pays if can't work any job.
4. Elimination Period: Waiting time for benefits.
5. Partial Disability: Can work partially.
6. Residual Disability: Income loss due to disability.
7. Rehabilitation Benefit: Vocational training coverage.