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Today's Terms
Indemnity
Definition:
Indemnity plans are also referred to as “fee-for-service.” Unlike managed-care plans, indemnity plans allow absolute freedom in selecting physicians or medical facilities and permit self-referral to a specialist.
Basic Hospital
Definition:
Basic-hospital plans cover only in-hospital (inpatient) care, not other services. This benefit also may be limited to an approved or network facility. Hospitalization in a different facility may qualify for less coverage or none at all.
Business interruption
Definition:
If you're unable to run your business due to a covered peril (fire, storm damage, vandalism and so on), business interruption insurance will replace lost income, pay ongoing expenses and pay costs involved in getting you set up in a temporary facility.
More Terms >
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