The fine-print dictionary covered the ten decision-critical terms – this glossary provides the full vocabulary, alphabetically, one sentence each. Bookmark material.
A–D
- Broker: an independent intermediary acting on the client’s (not the insurer’s) mandate – hold us to that standard too.
- Book/portfolio: the totality of contracts an insurer manages.
- Insured event: the occurrence triggering the insurer’s service – defined in the wording.
- Insured person: whom the cover protects (the employee); distinct from the policyholder (the company).
- Premium notice: the insurer’s payment request – the account number on it prevails.
- Premium correction: the monthly settlement that financially tracks headcount movement.
E–K
- Care coordination: the appointment-booking and patient-routing service (run by the care coordinator).
- Renewal date: the contract’s annual anniversary – the time for changes, indexation, termination.
- Cover: what the insurance extends to; the answer to „what am I insured for".
- Wording (conditions): the legal document fixing services and boundaries.
- Loss ratio: services paid out versus premiums paid in – one engine of the index.
- No-claims bonus: a discount after low usage (rarer in group health than in motor).
- Exclusion: what the insurance never covers.
- Policy: the document evidencing the contract; the policy number is the key to all administration.
L–O
- Headcount tolerance: the band within which headcount changes do not alter pricing.
- Limit: the cap on the insurer’s payment (annual or per event).
- Product line: an insurer’s internal name for a product type (e.g. group health).
- Deductible/co-payment: the client’s share of a cost.
P–Z
- Portfolio: the totality of insurances managed for a client or by a broker.
- Policyholder: who concludes the contract and pays the premium – in corporate schemes, the employer.
- Service financing: the insurer pays the clinic directly (the network model).
- Term: the contract’s duration; group contracts typically run indefinitely in annual cycles.
- Waiting period: the time during which a cover is not yet live.
- Rider/endorsement: a bespoke contractual clause departing from the wording – the legal form of tailoring.
- Green card… – a joke: that is the motor world. If a term is missing here, ask at the consultation.
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