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GLOSSARY
Earned premium - that portion of a premium for which the policy protection has already been given.
Effective date - the date when an insurance policy begins (may also be known as inception date.)
Emergency Care - a true emergency situation required immediate medical attention at the nearest facility to prevent death or disability due to a sudden trauma or illness, such as a stroke or broken leg. Emergency care is covered at someone's plan highest level of benefits.
Endorsement - a form changing the provisions and attached to a policy (known as a rider in Life and Health insurance.)
Endow (Endowment) - the maturity date or time at which the face amount equals cash value.
Exclusions - causes of loss, exposures, conditions, etc., listed in the policy, which are not covered, and with no benefits payable.
Executory contract - a contract that promises action in the event of a specified future occurrence.
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