A receipt for a payment of premium with the application which binds the Company on the contracts if the risk is approved as applied for.
Tag: RAW
Binomial distribution
A function used to predict the probability of future events.
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A mathematical probability distribution in which an event either occurs or does not occur, as in a distribution of “heads” in a coin-flipping experiment.
Bio Gas Plant Insurance Scheme
The policy covers loss and/or damages due to fire, lightning, explosion/implosion, riot, strike, malicious damage, impact damage, flood etc, earthquake etc and subsidence landslide including rockslide damage. The policy to cover value of the plant viz., digester + Gas holder + construction cost depending on type and cubic capacity.
Biologicals
Drugs or vaccines made from a live product and used medically to diagnose, prevent, or treat a medical condition (e.g., flu, pneumonia injection).
Biometric identifier
Personal identification based on a physical characteristic and used for security purposes such as a fingerprint. Sometimes a personal identification number (PIN) may be used with the fingerprint sample to gain access to a computer or other system.
Birth certificate
Original record maintained by a governmental entity including states, counties, parishes, cities, and/or boroughs that documents an individual’s birth.
Birth father
1. Male who genetically fathered a child. 2. Identifies the male who is biologically the parent of an adoptee. Also known as biological father . See biological father .
Birth mother
1. Female who genetically births a child. 2. Identifies the female who gave birth to an adoptee. Also known as biological mother, natural mother , or real mother . See biological mother .
Birthday law / birthday rule
Legal state statute to determine coordination of benefits for primary and secondary carriers of dependent children covered under both parents’ insurance plans. The health plan of the parent whose birthday (month and day, not year) falls earlier in the calendar year pays first, and the plan of the other person covering the dependent is the secondary payer. If both policyholders are born on the same day, the policy that has been in force the longest is the primary policy. Birth year has no relevance in this situation. Also called birthday rule .
Birthday Rule, Health
One method of determining which parent’s medical coverage will be primary for dependent children; the parent whose birthday falls earliest in the year will be considered as having the primary plan.