Glossary of Health Insurance Terms


Insurance

A device for transferring risk of loss from individuals to an insurer. The insurer agrees for a valuable consideration (premium) to indemnify or pay a certain amount for losses incurred by the insured. The insurer is able to accomplish this by spreading risks among large numbers of insureds.

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ASAP Quotes believes that informed consumers are happier consumers. If you have a question regarding a health insurance term or concept, then this glossary can help you.