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Additional insured: A person, company or entity protected by an insurance policy in addition to the insured. Benefits: The amount payable by the insurance company to a claimant, assignee or beneficiary under each coverage. Certificate of Insurance: A statement of coverage issued to an individual insured under a group insurance contract, outlining the insurance benefits and principal provisions applicable to the member. Claim: A request for payment of a loss which may come under the terms of an insurance contract. Deductible: An amount which a policyholder agrees to pay, per claim or per accident, toward the total amount of an insured loss. Dismemberment: Loss of body members (limbs), or use thereof, or loss of sight due to injury. Effective Date: The date on which the insurance under a policy begins. Exclusions: Specific conditions or circumstances listed in the policy for which the policy will not provide benefit payments. In-Home: Any activity occurring in or on a property intended for residential use. Injury Independent of All Other Means: An injury resulting from an accident, provided that the accident was not caused by an illness. Insured: A person or organization covered by an insurance policy, including the "named insured" and any other parties for whom protection is provided under the policy terms Liability Insurance: Insurance covering the policyholder's legal liability resulting from injuries to other persons or damage to their property. Loss: The happening of the event for which insurance pays. Master Policy (or Master Contract): The policy issued to a group policyholder setting forth the provisions of the group insurance plan. The individuals insure under the policy are then issued certificates of insurance. Negligence: Failure to use the care that a reasonable and prudent person would have used under the same or similar circumstances. Occurrence: An accident, including continuous or repeated exposure to substantially the same general, harmful conditions, that results in bodily injury or property damage during the period of an insurance policy. Policy: The legal document issued by the company to the policyholder, which outlines the conditions and terms of the insurance; also called the policy contract or the contract. Policyholder: A person who pays a premium to an insurance company in exchange for the insurance protection provided by a policy of insurance. Premium: The sum paid by a policyholder to keep an insurance policy in force. Reasonable and Customary Charge: A charge for health care, which is consistent with the going rate or charge in a certain geographical area for identical or similar services. Special Risk Insurance: Coverage for risks or hazards of a special or unusual nature. |
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The Home School Legal Defense Association (HSLDA) does not assume any of the insurance risk provide by the carriers. HSLDA is not involved in the administration of these plans including premium collection or adjudication of claims. HSLDA acts only in the capacity of the Master Policyholder for these Policies for its Members benefit. |