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Acceleration life insurance

A policy that enables the insured to receive 25% of the death benefit prior to death. this is done in the case of certain medical conditions, The benefit is used to cover medical expenses that will allow the insured to live longer. Any remaining benefit is paid out to the beneficiary in the traditional manner upon death.

Acceptability

The overall assessment of medical care available to an individual or group. In determining the acceptability of health services provided, the individual considers factors such as cost, quality, results, and convenience of medical care, as well as provider attitudes.

See Also: Accessibility and Availability.

Acceptance

  1. The insured’s decision to enter into an insurance contract at the insurance company’s terms.
  2. An insurer’s acceptance of a proposal for insurance, which normally concludes the contract even if the policy is not issued until later (see also Notification).
  3. The act of agreeing to an offer to form a contract. It happens when an underwriter initials a slip, or when the proposer of a life insurance policy pays the premium after receiving an offer, i.e. the acceptance letter.

Accepting assignment

1. A Medicare Part B agreement in which a Medicare participating physician agrees to accept 80% of the approved charge from the fiscal intermediary and 20% from the patient after the patient’s deductible has been met.

2. Transfer of the legal interest in an insurance policy to another person, typically when property is sold; or in life insurance, only valid with the insurance company’s consent.

3. Transfer of an individual’s right to receive payment under an insurance contract.

Access

Refers to an individual’s ability to obtain needed medical care, such as facility location, transportation, operating hours, cost of care, availability of medical services, and patient acceptability of services.