Medical insurance glossary

Glossary Claim . A demand made by the insured, or the insured's beneficiary, for payment of the benefits provided by the contract.
Premium. The price of insurance protection for a specified risk for a specified period of time.
Chronic condition. Prolonged or long-term conditions that can be managed but rarely cured
Pre existing condition. Conditions that had shown signs or symptoms, and/or been diagnosed and treated, before the insurance policy had taken effect.
Disability. A condition that curtails to some degree a person's ability to carry on his normal pursuits. A disability may be partial or total, and temporary or permanent
Hazard. A specific situation that increases the probability of the occurrence of injury, illness or death.