Policy
The contract form issued by the company to explain the coverage provided. It is a legal document.

Major Medical Insurance
A type of health insurance that provides benefits for most types of medical expenses incurred up to a high limit, subject to a large deductible.

Renters Insurance
A form of insurance that covers a renter’s posessions against perils such as fire, theft, windstorm, explosion, vandalism, and others. It also provides personal liability coverage for damage the renter or family members cause to other people in addition to other things that standard homeowners policies cover.

Open Enrollment
A period of time when eligible subscribers may enroll in, or transfer between available programs providing health care coverage.

Good Driver Plan
A rating program offered by some insurance companies that reduces your premium if you have had no accidents or traffic violations within a specified time period.

Auto Replacement Coverage
A supplemental auto insurance coverage that guarantees your car will be completely repaired or replaced, even if the costs exceed its depreciated value.

Health Plan
A generic term referring to a specific benefit package offered by an insurer.

Umbrella Liability Insurance
A policy that "floats" above your other coverage. You must carry a certain amount of underlying liability coverage before you may buy an umbrella policy.

Deductible
The deductible is the amount you agree to pay on each loss before your insurance company pays.

Waiting Period
The period of time between the beginning of a disability and the date benefits begin.