Reference guide
Insurance Glossary
Plain-language definitions of common insurance terms across policies, coverage, and claims. Check your policy or plan documents for the terms that apply to you.
Find an insurance term
Showing 24 of 92 matching terms
Terms beginning with C
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Cancellation
General insurance - Ending an insurance policy before its scheduled expiration date.
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Cancellation notice
General insurance - Written notice stating that a policy will end before its scheduled expiration date.
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Captive agent
General insurance - An insurance agent who represents one insurer or a defined group of affiliated insurers rather than the full market.
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Captive insurer
Business insurance - An insurance company formed or owned by a business or group to insure some of its own risks.
- Also called: captive insurance company
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Care management
Health insurance - Services that help coordinate care, support treatment plans, and connect members with appropriate health resources.
- Also called: case management
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Case reserve
Claims - An insurer’s estimate of the amount needed to pay a reported claim, including expected related expenses where applicable.
- Also called: claim reserve
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Cash surrender value
Life insurance - The amount a permanent life policyholder may receive after surrendering a policy, subject to loans, charges, and policy terms.
- Also called: surrender value
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Cash value
Life insurance - The savings component that may build inside certain permanent life insurance policies.
- Also called: policy cash value
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Catastrophe reinsurance
General insurance - Reinsurance protecting an insurer against accumulated losses from a severe event such as a hurricane or earthquake.
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Catastrophic coverage phase
Health insurance - The Medicare Part D benefit stage that applies after a member reaches the applicable out-of-pocket threshold.
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Catastrophic health plan
Health insurance - A health plan with a high deductible that is available to eligible people and generally covers essential health benefits after cost sharing rules apply.
- Also called: catastrophic plan
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Cause of loss
Claims - The event or chain of events determined to have produced the claimed damage or injury.
- Also called: loss cause
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Ceding company
General insurance - An insurer that transfers part of its insurance risk to a reinsurer under a reinsurance agreement.
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Certificate of coverage
Health insurance - A document describing a member’s covered benefits, exclusions, limitations, and responsibilities.
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Certificate of insurance
Business insurance - A document that summarizes certain insurance information; it is not the policy itself.
- Also called: COI
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Certified application counselor
Health insurance - An individual or organization trained to help consumers apply for and enroll in health coverage.
- Also called: CAC
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Charitable beneficiary
Life insurance - A charity named to receive life insurance or annuity proceeds after an insured or owner dies.
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Chartered life underwriter
Life insurance - A professional designation earned by completing advanced life insurance and financial-planning coursework and examinations.
- Also called: CLU
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Children’s Health Insurance Program
Health insurance - A joint federal and state program that provides low-cost health coverage for eligible children and, in some states, pregnant people.
- Also called: CHIP
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Child term rider
Life insurance - A rider that provides a limited amount of term life insurance for eligible children under an adult’s policy.
- Also called: children’s term rider
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Chronic condition
Health insurance - A health condition that lasts a long time or requires ongoing medical care or monitoring.
- Also called: chronic illness
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Claim
Claims - A request for an insurer to review a loss or service under the terms of a policy or plan.
- How to file an insurance claim
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Claim adjudication
Health insurance - The process a health plan uses to review a claim and determine payment, denial, or member responsibility.