Terms with Category Insurance
- Floater Insurance — Definition,
- Insurance that covers assets not commonly covered by an existing policy such as electronics or jewelry.
- Flood Insurance — Definition,
- An insurance policy that provides coverage for the damages resulting from flooding. Canadian homeowners are currently unable to purchase flood insurance.
- Flood Plain (flpl) — Abbreviation,
- Land that is prone to inundation.
- Four Pillars — Definition,
- Refers to the main types of financial institutions: banking, trust, insurance, and securities.
- Fringe Benefit — Definition,
- Employee compensation other than your wages, tips and salaries, such as health insurance, life insurance and pension plans. Usually referred to as a Bonus.
- Future Purchase Option — Definition,
- A provision that gives the policyholder the option to purchase additional insurance coverage at a future date.
- Gap Insurance — Definition,
- A type of insurance offered to auto lease customers. This type of insurance covers the difference in value between a vehicle's book value and the amount remaining on a vehicles financing or lease, if such a difference exists.
- Gatekeeper — Definition,
- In relation to health maintenance organizations, a gatekeeper is a primary care physician that arranges medical care for policyholders.
- GE Capital — Company,
- GE Capital is the new CMHC alternative in the Canadian Mortgage Market place. GE Capital like CMHC provides banks/lenders with mortgage insurance. Not to be confused with life or property insurance. In the event of default or foreclosure GE Capital assumes responsibility of the property and reimburses the bank/lender the entire mortgage amount. This insurance is required generally when you have less than 25% equity or down payment. This insurance is paid by the property owner in advance but usually added to the mortgage amount. See also "CMHC."
➥ Also offers commercial financing. - General Account (GA) — Acronym, Very Important,
- Investments and assets that an insurer uses for paying benefits and claims.
- General Liability Insurance — Definition,
- Insurance that protects individuals and businesses from a number of potential liabilities.
- Grace Period — Definition,
- If the credit card user does not carry a balance, the grace period is the interest-free time a lender allows between the transaction date and the billing date. The standard grace period is usually between 20 and 30 days. If there is no grace period, finance charges will accrue the moment a purchase is made with the credit card. People who carry a balance on their credit cards have no grace period.
- A window of time where a policyholder still has time to pay insurance premiums.
- Group Health Insurance Plan — Definition,
- Health insurance that covers a large group of people, often as part as a employee benefit package.
- Group Home Care — Definition,
- An arrangement where a group of people with disabilities receive both custodial and medical care in a single residence instead of in their own homes, which can be prohibitively expensive.
- Group Life Insurance — Definition,
- Life insurance offered to a large number of people belonging to an organization, usually as part of a benefit package.
- Guaranteed Renewable — Definition,
- An insurance policy that gives the insured the option to renew the policy at the end of the its term, however the insurer has no restrictions on raising premiums.
- Handicap Accessibility — Definition,
- A measure of how accessible a location, product or service is for people with special needs or disabilities.
- Hazard — Definition,
- Anything that poses a potential risk of injury or damage.
- Hazard Insurance — Definition,
- Insurance that covers hazards that are considered risky enough not to be covered by a standard insurance policy.
- Hazardous Activity — Definition,
- Activities that pose a high risk of injury and as such are not covered by an insurance policy.
- Health and Welfare Trust (HWT) — Acronym,
- A method for employers to offer their employees tax-free health benefits.
- Health Insurance (HI) — Acronym,
- Insurance that covers the costs of medical expenses for insured persons.
- Health Maintenance Organization (HMO) — Acronym, Important,
- A healthcare plan where insured people receive reasonably priced health insurance through an organization with firm guidelines on the scope of care.
- Healthcare Plan — Definition,
- Insurance that can cover medical and dental expenses for insured people.
- High Deductible Health Plan (HDHP) — Acronym,
- Health plans with high deductibles and low premiums.
- High Risk Auto Insurance — Definition,
- Auto insurance for drivers with an increased risk of collisions.
- Home Care — Definition,
- Medical and/or non-medical care provided directly in a person's home.
- Homeowners Insurance — Definition,
- A policy that includes hazard coverage, covering loss or damage to property and/or assets located within, as well as coverage for personal liability and theft.
- Homeowners Insurance Binder — Definition,
- A document accompanying a homeowner's insurance policy that verifies the property is properly insured.
- Human Life Approach — Definition,
- A method of estimating what the probable lifetime financial impact a life insurance policyholder's death would have on his or her beneficiaries.
6.
Floater Insurance -
Group Home Care
Group Home Care
