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

Co-Payment
A co-payment is a patient's share of a health-care bill. It usually is a small amount - $5 or $10 per office visit.

Total Loss
When the cost to repair a vehicle approaches or exceeds the vehicle's actual cash value.

Pro Rata
Distribution of the amount of insurance in one policy, among the several objects or places covered, in proportion to their value or to the amounts shown. The distribution of liability among the several insurance companies having policies on the risk.

Term Insurance
Life insurance that covers the policyholder for a specific period of time, the “term” specified in the policy. It pays a benefit to a beneficiary only if the insured dies within that specified period of time. Term life policies are renewable.

Participating Provider
A provider who has contracted with a health care service contractor, HMO, PPO, IPA or other managed care organization to provide health care.

Policyholder
Literally, the person who has possession of the policy.

Health Maintenance Organization
A legal entity in the state that provides health care in a geographic area, and which accepts responsibility to provide directly or by contract an agreed-upon set of health services to a defined, voluntarily-enrolled group of individuals.

Policy Owner
The person who has the right to exercise the rights and privileges in the policy contract. Such person may or may not be the insured, depending on policy ownership and assignment, if any.

Insured Mortgage
A mortgage insured against loss to the mortgagee in the event of default and failure of the mortgaged property to satisfy the balance owing plus costs of foreclosure.