New York Life

Glossary

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Health Insurance
A broad-based term referring to insurance that provides benefits to help pay expenses associated with covered injuries or illnesses. The concept includes all types of loss-of-time and medical expense coverage, such as accident insurance, disability insurance, and medical expense insurance.

Heir
Any person who has a right to receive all or a portion of the estate of a decedent.

Home and Community Based Care Maximum Daily Benefit (HHCMDB)
The maximum amount that will be paid for eligible charges for each day the insured is receiving care or services in the home or community setting. May be expressed as a maximum monthly amount. Applicable to Long-Term Care Insurance policies.

Home Office
Generally, the corporate headquarters of an insurance company, where the primary offices of the company are located.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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