See: Medicare Part D Prescription Drug plan.
Insurance Encyclopedia
Part IV Permission
Permission given by the FSA under Part IV FSMA to carry on regulated activities.
Part Load Charter
Where a part of an aircraft’s load is discharged at one destination and a part of it at another. This is distinct from a split charter where a number of consignments are carried to the same destination inbound part loads are treated as single entity charters under the regulations of most countries.
Part Of
A reinsurance term used to make it clear that the reinsurer is accepting part only of the risk covered by the original insurance and that in the event of a short closing he will not be saddled with the whole risk.
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UK: Reinsurance term indicating that the reinsurer is accepting part only of the original risk and making it clear that in the event of a short closing he will not be prepared to accept the whole of the risk.
Part-Time Agent
An agent who, as a subsidiary activity, introduces business to an insurer on which he received a commission.
Part-time work
In workers’ compensation cases, employment of fewer than 30 hours per week for one employer.
Partial capitation
Managed care capitation contract that concerns a capitated payment plus a payment for the actual cost of providing care and medical services to enrollees. This combination of capitation and fee-for-service reimbursement is sometimes a method for developing toward the total capitation of providers in a medical group or market area.
Partial disability
MEDICAL,USA: 1. Disability from an illness (congenital or acquired) or injury that prevents an insured person from performing one or more of the functions of his or her regular job. Loss of function may be expressed as a percentage. 2. Individual who has permanently lost a specific percentage of earning capacity.
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An illness or injury which prevents an insured person from performing one or more of his occupational duties.
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Reduction in ability to do things and work that one could when in full health. The degree of disability will vary with the severity of the injury or illness. A provision generally found in accident and occasionally in sickness policies designed to offer some weekly or monthly indemnity benefit if the insured cannot perform all the important daily duties of his occupation.
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US: The result of an illness or injury which prevents an insured from performing one or more of the functions of his/her regular job. A benefit sometimes found in disability income policies providing for the payment of reduced monthly income in the event the insured cannot work full time and/or is prevented from performing one or more important daily duties pertaining to his occupation.
Partial disability (Health Insurance)
A disability that occurs as a result of injury or illness. Each insurance policy defines this term differently, but generally this term refers to a disability that prevents the insured from completing all of the tasks that his or her occupation requires. The insured is still capable of performing some of these tasks.
Partial disability benefit
Dollar amount stated in a disability income insurance policy that is paid when the insured has a partial disability (prevented from doing one or more of his or her daily job duties). See residual disability benefit.