Population group that shares a common property, characteristic, or event such as a year of birth or year of marriage. The most common one is the birth cohort, a group of individuals born within a defined time period, usually a calendar year or a 5-year interval.
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UK: a body of claims, for example, claims grouped by accident year, report year or underwriting year.

Dollar amount that a patient must pay in coinsurance expenses each year before an insurance plan will pay 100% of eligible expenses for the rest of the year. Also known as out-of-pocket maximum.

Specific percentage of the fee the patient is responsible for paying the provider of the medical service or supply; also called coinsurance.

1. Clause in a health insurance contract that requires the insured to pay a specific percentage in excess of the deductible of all eligible medical expenses. 2. Clause in property insurance agreement whereby the property owner is to carry insurance up to an amount established with the provisions of the policy. This is a stated percentage of the value of the property.

All those in a group contribute their input on what they want and why and how conflicts between different parties may be resolved to reach a final determination to a problem or project.

Any possession such as an automobile, furniture, stocks, or bonds that secures or guarantees the discharge of an obligation.
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UK: The security offered by a borrower for a loan. Life insurance policies that have acquired a surrender value are often acceptable as collateral security.

Transfer of some ownership rights in an insurance contract from one individual to another, sometimes for a temporary period. An insurance policy can be assigned as collateral for a loan, in which case all transferred rights revert to the assignor when the loan is repaid. Also called collateral loan. See absolute assignment or assignment.

Individuals made eligible for dependent insurance coverage for a group policy by expanding the definition of dependent (e.g., parents, grandparents, brothers, sisters, or others that depend on the insured for the main part of their financial support).