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Period Certain Annuity
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Period Certain Annuity
is guaranteed payment given to Annuitant for a certain period
of time.
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Pensions
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Pension is a program which provides retirement
solution after they meet minimum age. It's a periodically income
which a pensioner receives form the insurer.
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PPO (Preferred Provider Organization) Plan
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A health
care organization which consists of doctors, hospitals and
other service that provides health care at reduced fee. PPO
is similar to HMO.
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PacifiCare
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PacifiCare provides good health
insurance cover for senior, employer group and many individuals.
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Permanent Disability (PD)
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A residual disability which impairs workers ability
to compete in the open labor market after the of workers medical
condition improves as much as possible
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Participating Policy
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A Participation Policy is a plan where the company
agrees to distribute the surplus to the policy holder, and Board
of Directors determination is not required in the end of the
business year.
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PIA - Professional Insurance Agent
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A state-licensed Professional who could represent
any insurance company including all service is called a Professional
Insurance
Agent.
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Point-of-Service (POS)
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A Point of Service is a health
insurance plan whose member are allowed to choose the service
available when ever required, either in HMO or PPO.
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Policy
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The legal written document issued by the companies
which carries the terms and condition of the insurance, it is
other wise called as policy contract or policy document.
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Premium
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It's a periodic payment made by the insurer in
consideration that the risk is accepted by him. Premium could
be paid according to the policy contract; it could be monthly,
quarterly, and half yearly or also could be yearly.
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Peril
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A Peril is defined as a loss or as damage. In order
to cover these losses, it must be caused by a peril, which listed
in the policy contract. And if not then there is no coverage.
