International credit service dedicated to serve in the insurace industry field. Best’s Credit Ratings are independent opinions about the insurance companies credit value. The Best’s Credit Ratings are based in the institution financial profile and their liquity to pay their monetary commitments.
The percentage the insured pay per event after the deductible is covered. Usually is the 10% of the first five thousand.
A small amount the insured must pay upon receiving certain medical services such as consultation or medical prescription.
COUNTRY OF RESIDENCE:
Permanent residence (over 6 months).
DATE OF ISSUANCE:
Date on which the policy is effective.
A minimum expense amount the insured must incur before the insurer company starts to make payments of benefits under the policy.
A type of insurance that protects against the risk of financial loss as a result of illness, accidental injury or disability of the insured person.
Shows how the life insurance policy can act. illustrates premiums, death benefits, cash values and information about other factor that may affect their costs. The policies illustrations are based on current assumptions and may differ from the actual practice because conditions change with time, even though the illustrations are not part of the insurance contract.
Medical tests and other information questionnaires that the company needs to determine if the person is acceptable for insurance.
The person whose life or health is insured under the policy.
The total insured sum.
Equals the set of benefits offered under the plan contracted by the insurance company.
Medical evidence needed to establish the risk prospect insured based on the coverage amount requested.
Refers to medical treatments made to the insured when a patient is not registered on the hospital or medical center.
The outpatient service includes routine services performed in clinics or emergency rooms.
The conditions that are agreed at the time of the policy subscription, they will not be compensated for various reasons that are not easyly quantifiable or by their nature pose a high risk to the insurer company.
Person who requested, paid and whose name the insurance policy is issued.
The amount charged by the insure to cover the cost of issuance the contract.
Individualized and specified the insurance. The conditions of the policy may include, but are not limited to the following: the insured name, the insured sum, the premium or the calculation method and the risks that the insured its responsible for, the contract term, maturity and the premium payment form.
Sets general parameters for the records of the insurance contract. These conditions generally contain protections, exclusions, rights and obligations of both the insured and the insurer and other conditions applicable to the branch which the policy belongs.
POLICY EFFECTIVE DATE:
The date on which coverage becomes effective.
PRE-EXISTING MEDICAL CONDITIONS:
Medical conditions caused by an illnes that eventually required hospital care, medical treatment and / or medication use and who was diagnosed before the date of the policy
Additional rider that implies the avaible coverage of a life insurace policy, which extends the payable benefits and is part of the policy. Sometimes called Endorsement.
Is the amount of money the policy owner will receive after adjustments such as policy loans and overdue premiums.
TERM LIFE INSURANCE:
Provides a death benefit if the insured dies during the specified period.
TERM OF THE POLICY:
It is the period of time in the policy, which have effects during their coverage. The term of the contract must indicate the date and time of commencement and expiration.
UNIVERSAL LIFE INSURANCE:
It is a form of permanent life insurance characterized by flexible premiums and amounts.
VARIABLE LIFE INSURANCE:
It is a form of permanent life insurance under which the death benefit and the policy cash value fluctuates according to the investment performance of a separate accounts fund.
Defined time of the health policy issuance during which the incurred medical expenses by the insured are limited.
WHOLE LIFE INSURANCE:
Provides insurance coverage for life with a premium level rate that increases as the insured ages.