See: Durable Medical Equipment (DME) .
Insurance Encyclopedia
Home office
The corporate headquarters of an insurance company.
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Generally the corporate headquarters of insurers and the location where the chief officers of the organization are housed. See Also: “Head Office.” The term used in USA is Home Office instead of Head Office.
Home office administration
System in which the insurance company maintains all clients’ basic insurance agreement records at the home office.
home oxygen therapy requirements (HOTR)
Physician’s clinical documentation indicating that a patient’s residential use of oxygen is medically necessary.
Home patients
Medically able individuals who have their own dialysis equipment at home and, after proper training, perform their own dialysis treatment alone or with the assistance of a helper.
Home responsibilities protection (HRP)
Entitlement to the basic state pension for persons unable to accept regular employment because they are caring for children or a sick or disabled person at home.
Home reversion plan
Like home income plans, but the house is sold outright to the insurance company in return for an immediate annuity and a life tenancy. The sale price is below market value and the insurance company or institution purchasing the property benefits from any increases in property value. After death nothing remains for any dependants.
Home service agent
Exclusive insurance agent who works for a home service company and who collects premiums and gives service at the policy-owner’s residence. He or she offers monthly debit life, health, and fire insurance products and products for which premiums are billed by and remitted directly to the insurance company. Some of the business may also be in industrial insurance.
Home service assurance
See: industrial life assurance.
Home service distribution system
Method used for individual insurance that hires agents to collect premiums and give service at the policy owner’s residence. The agent works in a defined geographical territory. See also home service agent .