This is a special kind of medical insurance that is only for a specific amount of time and usually does not extend past a year or two unless an extension of the policy is requested by the policyholder and approved by the insurance company.
The customer receives a $100 discount off the cost of his or her collision deductible when the policy is issued and a further $100 is taken off the deductible each year that the policyholder remains accident-free, up to a maximum of $500.
The Random House Unabridged Dictionary defines, it as "insurance providing for payment of a sum of money to a named beneficiary upon the death of the policyholder or to the policyholder if still living after reaching a specified age."
The name of the policyholder needs to be clearly indicated.In a situation where there is a secondary health insurance policy that may provide benefits for the child, this company's information should also be listed on the form.
In other words, if you want to have a $0 deductible, and have the insurance company be completely responsible for all claim costs, you will pay more every month than a policyholder who is willing to have a higher deductible.