An amount paid at the inception of an insurance contract, usually subject to adjustment at the end of the policy period.
Insurance Encyclopedia
Initial eligibility period (Health Insurance)
A time frame during which prospective insureds can apply for insurance without having to prove insurability.
initial enrollment period (IEP)
One of four periods during which an individual can enroll in Medicare Part A. The IEP is the first chance the person has to enroll in Medicare Part A. This period starts 3 months before he or she first meets all the eligibility requirements for Medicare and continues for 7 months. Also see annual enrollment period (AEP), general enrollment period (GEP), open enrollment period (OEP), special enrollment period (SEP) , and transfer enrollment period (TEP) .
initial enrollment questionnaire (IEQ)
Feedback form sent to the Medicare beneficiary when he or she becomes eligible for Medicare to learn if he or she has other insurance that should pay the medical bills before Medicare.
Initial Period
In business interruption insurance a period of so many weeks after the occurrence of material damage during which the insured is protected against loss in relation to wages to the full extent of his wage roll.
Initial Premium
Amount charged at the beginning of coverage but subject to change after additional experience or information has been obtained.
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MEDICAL,USA: Amount to be paid at the beginning of insurance coverage but subject to change after additional experience or information has been obtained.
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The premium paid at the beginning of the policy. This amount may be adjusted at the end of the contract term.
initial preventive physical examination (IPPE)
First time an individual goes to see a physician for objective inspection and/or testing of organ systems or body areas to prevent the occurrence of illness, injury, and disease.
Initial rate
Premium amount paid on or before the effective date of a new insurance policy.
Initial rehabilitation evaluation
First procedures by a rehabilitation specialist after a case has been referred (i.e., contact the insured, employer, and physician). Factors investigated relate to medical, psychological, social, vocational, education, and economics to determine what action to take for rehabilitation of the insured.
Initial reserve
Funds set aside by an insurance company at the beginning of the insurance policy year. An initial reserve includes the net annual premium that is due on the policy.