P

premium - periodic payment needed to maintain an active insurance policy.

R

residual disability benefits - a provision in an insurance policy that provides benefits in proportion to a reduction of earnings that result from a partial disability.

rider - a document that amends the policy or certificate benefits or provisions. It may increase or decrease benefits, waive the condition of coverage, or in any other way amend the original contract.

T

third party funding - reimbursement for services rendered to a person in which an entity other than the recipient is responsible for the payments, eg. an insurance company.

U

underwriter - a company that receives premiums and accepts responsibility for the fulfillment of the insurance policy contract; or the company employee who decides whether or not the insurance company should assume a particular risk; or the agent who sells the policy.

W

waiver - an agreement attached to a policy that exempts from coverage certain types of disabilities or injuries.

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