Type of insurance coverage purchased by an employer to limit the losses under a self-insurance medical plan. Two types are specific stop loss and aggregate stop loss.

Clause in a health insurance policy that states the insurance company will pay 100% of the insured’s eligible medical expenses after the insured has met a certain amount of expense (coinsurance).

Reinsurance purchased to protect an insurance company (cedent) against an aggregate amount of insurance claims over a specific time period. This type of plan does not cover individual claims.

Type of annuity policy that makes periodic payments to the annuitant as long as the annuitant is alive but no benefits after death.

Life insurance policy settlement where payments to the beneficiary continue until the beneficiary’s death.

All nonexempt assets of the bankrupt person are liquidated and are distributed according to the law to the creditors. Secured creditors are first in line for payment of all secured debt. Unsecured creditors are last. Also called Chapter 7 bankruptcy or absolute bankruptcy .

Minimal type of medical decision-making.

One of four types of medical decision-making that indicates a minimal number of diagnoses, zero to minimal data or complexity of data to be reviewed, and minimal risk of complications and/or morbidity or mortality.