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  Insurance Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z All

Effective Date
The date the insurance policy begins.

Elimination Period
The number of days of care that you pay before your insurance plan picks up the benefits.

An addition to a policy that modifies its benefits.

A cash value policy payable to the policyholder on the maturity date, if living, or to a beneficiary at the time of the insuredís death.

Enrollment Period
The period during which individuals may enroll for an insurance policy, Medicare, HMO benefits.

Employee Retirement Income Security Act, a federal law that regulates employer-sponsored pension and insurance plans for employees.

Evidence of Insurability
Statement or proof of a personís health, finances, lifestyle, habits, or job to the extent that they affect his or her acceptability for insurance.

A provision in an insurance policy that denies coverage for certain losses, persons, or property.

Exclusions, Homeowners Insurance
Part of an insurance contract that excludes coverage of certain perils, persons, property or locations.

Experience Rating
A method of calculating group insurance premium rates by which the insurer considers the particular groupís prior claims and expense experience.†

Experimental and Investigational Procedures
Health insurance coverage generally excludes medical treatments that are deemed to be unproven, ineffective, or non-standard. This includes surgical techniques and medicines not approved by the Food and Drug Administration. Sometimes such treatments may be available by traveling to another country, but these treatments would generally not be covered.

Explanation of benefits (EOB)
The insurance companyís explanation of its decision regarding your claim.

Extended Term Insurance
Allows for the continuation of the original amount of the insurance with no further premium payments during a limited period of time.



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