TRANSLATION
Authorized NEVADA DMV document translation.
INSURANCE
Health Insurance
Health insurance – also referred to as medical insurance or healthcare insurance – refers to insurance that covers a portion of the cost of a policyholder’s medical costs. How much the insurance covers (and how much the policyholder pays via copays, deductibles, and coinsurance) depends on the details of the policy itself, with specific rules and regulations that apply to some plans.
If you don’t have health insurance and you end up needing medical care, you can be left with insurmountable medical bills or even face situations in which medical providers refuse to treat you.
Life Insurance
Term Insurance
Term life insurance, also known as pure life insurance, is a type of death benefit that pays the heirs of the policyholder throughout a specified period of time.
Once the term expires, the policyholder can either renew it for another term, convert the policy to permanent coverage, or allow the term life insurance policy to lapse.
Whole life Insurance
Whole life insurance, also known as traditional life insurance, provides permanent death benefit coverage for the life of the insured. In addition to paying a death benefit, whole life insurance also contains a savings component in which cash value may accumulate. Interest accrues at a fixed rate and on a tax-deferred basis.
Whole life insurance policies are one type of permanent life insurance. Universal life, indexed universal life, and variable universal life are others. Whole life insurance is the original life insurance policy, but whole life does not equal permanent life insurance as there are many types of permanent life.
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