General state of decline in mental and physical functioning associated with the aging process.
Insurance Encyclopedia
Senior Advantage Plans
Health care programs offered by a managed care plan or insurance company to individuals who are eligible for Medicare Parts A and B. Also see Medicare Part C, Medicare Plus (+) Choice (M+C) plan, and managed care .
Senior captive
A captive insurer that has developed into a normal insurer taking risks from the market generally.
Senior center
Facility that provides a variety of on-site programs and information for older adults including recreation, socialization, congregate meals, and some health services.
Senior plan
Health care program offered by a managed care plan or insurance company to individuals who are eligible for Medicare Parts A and B. Also see Medicare Part C, Medicare Plus (+) Choice (M+C) plan .
Sensitive information
Medical record data related to diagnoses of sexually transmitted diseases, HIV/AIDS data, mental health problems, and treatment for drug and alcohol abuse. Additional examples of information that could be considered sensitive include data about minors, reproductive health information, communicable disease data, chemical dependency data, genetic information, prescription drug information that may lead to disclosure of a sensitive condition, abuse and neglect exposure, and social and family history.
Sentimental Damages
Fear of loss does not give rise to a claim as if the peril feared had been in Direct operation. Thus sentimental damages are not recoverable.
Sentimental loss
Occurs when sound cargo is sold at a reduced price because of an unfavourable association with goods, part of the same cargo (e.g. tea), damaged by an insured peril. The ‘sentimental’ loss on the sound goods is uninsured.
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The loss of property which has favorable associations (e.g., an engagement ring) may cause suffering disproportionate to the monetary value of the object lost. Conversely property with unfavorable associations (e.g., cargo which, though undamaged, has been involved in a shipwreck) may lose value as a result of such associations. Insurances are considered not to cover sentimental losses.
Sentimental value
The value that a person attaches to property based on feelings of emotion and affection not monetary values. Such values cannot be expressed in financial terms and cannot therefore be insured.
SEP
See: special enrollment period (SEP) . Acronym for simplified employee pension; See: Section 408(k) of the Internal Revenue Code .