Florida Health Insurance Definitions

Florida Health Insurance Terms:
"Insurance"

Please Explain "Insurance?":

Simply, you pay money now to take care of you later if you are sick.

More: A system for reducing risk by transferring the risks of several individual entities to one entity, such as an insurance company. Each individual entity contributes monetarily (premiums) to cover the risk assumed by the insurance company.

Detailed: A promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company or it could be a "policy" or written contract or certificate of insurance; "you should have read the small print on your policy" indemnity: protection against future loss.

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