1. Specific dollar amount that must be paid either monthly, quarterly, or annually by an individual, covered family member or a specified amount of time that must elapse before a medical insurance plan or government program begins covering health care costs. For the majority of plans, this amount must be incurred each calendar or fiscal year before insurance benefits will be reimbursed. 2. One deductible that when fulfilled relieves a family of satisfying a deductible for each individual family member.
Insurance Encyclopedia
Family Dependent
A person entitled to coverage because he or she is (i) the enrollee’s spouse, or (ii) a single dependent child of either the enrollee or enrollee’s spouse (including stepchildren or legally adopted children), (iv) dependent parents or dependents parents-in law including step father/mother/in-laws (v) Widowed daughter/Divorcee Daughter and her dependent child (vi) A resident of the enrollee’s home subject to approval by insurer.
Family dependent (Health Insurance)
An individual who is covered due to being the insured’s spouse or single dependent child who resides with the policyholder.
Family expense policy
A policy which insures both the policyholder and his immediate dependents (usually spouse and children).
*****
An accident and sickness Policy or an accident only Policy covering all the members of one family.
Family expense policy (Health Insurance)
An insurance policy that covers all family members’ medical costs.
Family Floater Cover for Health Insurance
The sum insured chosen is floated on one or the entire family: Means Person(s) named on the schedule of the policy which includes family comprising of the proposer, his/her legally wedded spouse, dependent unemployed children between 3 (three months) to the age of 25 years, unmarried daughters including divorcee, and widowed daughters and dependent Parents or parents-in-law (either of them only). The minimum number of persons to be covered under the policy shall be the proposer plus one family member. Generally *Family floater policy* is cheaper than buying individual policies for family members.
family history (FH)
Review of medical events in the patient’s family including diseases that may be hereditary or contagious and conditions that place the patient at risk. Documented review of two or all three past, family, and/or social history (PFSH) areas, depending on the category of evaluation and management (E/M) service that may be performed. All three areas are required for comprehensive assessments.
Family income benefit
A decreasing term insurance that, on death within the policy term, pays a regular tax-free income for the remainder of the term. There is no survival benefit. The amount of income benefit’ per year usually remains level over the term selected but ‘increasing benefit’ policies can be arranged.
Family income insurance
Special individual insurance policy that combines whole life insurance with decreasing term insurance. The whole life insurance part of the agreement is paid as a lump sum on the death of the insured. The decreasing term part of the policy gives an income for a predetermined period to assist in supporting the insured’s family.
Family income policy
Life insurance policy that combines whole life and decreasing term insurance. In this type of agreement, the beneficiary is paid during a specific period of time if the insured dies before the end of the period specified and in addition receives the face amount of the policy either at the end of the specified period or after death of the insured.