Commercial insurance Health Dictionary

Health insurance which provides protection against the high cost of treating severe or lengthy illnesses or disabilities. Generally such policies cover all, or a specified percentage of medical expenses above an amount that is the responsibility of another insurance policy, up to a maximum limit of liability.... catastrophic health insurance

A cost-sharing requirement under a health insurance policy. It provides that the insured party will assume a portion or percentage of the costs of covered services.... co-insurance

Insurance which covers the risk of loss for most accidents and injuries to third parties (the insured and its employees are not covered) which arise from the actions or negligence of the insured, and for which the insured may have legal liability, except those injuries directly related to the provision of professional health care services (the latter risks are covered by professional liability insurance).... general liability insurance

Financial protection against the health care costs arising from disease or accidental bodily injury. Such insurance usually covers all or part of the costs of treating the disease or injury. Insurance may be obtained on either an individual or a group basis.... health insurance

Insurance providing for payment of a stipulated sum to a designated beneficiary upon death of the insured.... life insurance

Insurance policies which pay for long-term care services (such as nursing home and home care) that are generally not covered by other health insurance.... long-term care insurance

Privately organized health insurance that is based on estimation of probable population risks, and that provides either total or partial indemnity of medical expenses.... private health insurance

Liability insurance to protect professionals for loss or expense resulting from claims arising from mistakes, errors or omissions committed or alleged to have been committed by the insured in his professional activities.... professional liability insurance

(in Britain) a compulsory scheme of insurance under the terms of which employers and employees make joint contributions so that those who have contributed for a qualifying period may claim national insurance benefits in times of sickness, injury, maternity leave, unemployment, and retirement; self-employed persons pay all their own contributions. Those who do not qualify under the terms of this insurance scheme may also receive financial payments in times of need, but only subject to a means test.... national insurance