Insurance Terminology

Ever wonder what an agent is REALLY saying when reviewing policies with you? Here's a quick guide so you can speak the same language. As always, if you should have any questions, feel free to call our office at 603-225-6677 to speak with one of our trained specialists.

H

Habilitation Services

Health care services that help a person keep, learn or improve skills and functioning for daily living. Examples include therapy for a child who isn't walking or talking at the expected age. These services may include physical and occupational therapy, speech-language pathology and other services for people with disabilities in a variety of inpatient and/or outpatient settings.

Health benefit plan

In most cases, health care services provided to employees by an employer. It can be an indemnity plan or an HMO plan.

Health care reimbursement accounts

Although not an insurance benefit, these accounts allow you to set aside pre-tax dollars to pay for medical care or medical costs not covered by your regular health benefit plan.

Health Insurance

A contract that requires your health insurer to pay some or all of your health care costs in exchange for a premium. Health policies can offer many options and vary in their approaches to coverage.

Health maintenance organization (HMO)

Managed care plans that provide health care services to their members through networks of doctors, hospitals, and other health care providers. HMOs are popular alternatives to traditional health care plans offered by insurance companies because they cover a wide variety of services, usually at a lower cost.

Homeowner Insurance

An elective combination of coverages for the risks of owning a home. Can include losses due to fire, burglary, vandalism, earthquake, and other perils.

Home Health Care

Health care services a person receives at home.

Home service life

A method of selling and servicing insurance, mostly life and health insurance, and does not identify the type or relative cost of the product that is sold. Some companies that market on a home service basis sell what is known as "industrial life insurance." These are most often low death benefit policies with face amounts that may vary from $1,000 to $5,000 and which accumulate cash values at a very low rate. They are intended primarily to cover the expenses of a last illness and burial. The relative cost of industrial life insurance is extremely high compared to some other cash value policies and term life insurance policies.

Hospice Services

Services to provide comfort and support for persons in the last stages of a terminal illness and their families.

Hospital confinement policies

Policies that pay a fixed amount each day you are in the hospital.

Hospital-surgical policies

Insurance policies that cover hospital and surgical services.

Hospitalization

Care in a hospital that requires admission as an inpatient and usually requires an overnight stay. An overnight stay for observation could be outpatient care.

Irrevocable Beneficiary (Next)


 

PJ has almost 40 years' experience in the insurance industry, and is very proud to be celebrating Able Insurance Agency’s
20th anniversary this year. From it's humble beginnings in a home office, he has grown Able to its niche as a full service independent agency.  PJ is a community service oriented person, has lived in Concord since 1975, is a dedicated Rotary Club of Concord member and Past- President, and plays more than a little tennis, having held New England rankings as a senior player. He has four children, two grown and on their own, and lives in Concord with his wife Lynn.

Able Insurance offers a range of products and services for both business and personal needs:



 

Business Insurance:

Bond
Commercial Auto
Commercial Liability
Commercial Property Commercial Umbrella
Directors & Officers Liability
Disability
Group Health Group Life
Professional Liability
Workers' Compensation

Personal Insurance:

Homeowner's Insurance
• Automobile Insurance
• Life Insurance
• Health Insurance
• Disability Insurance

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