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Glossary
Claim: the demand by an individual to recover losses covered under an insurance policy.
COBRA: a federal provision that requires most employers with more than 20 workers to continue your health insurance coverage if you leave your job; you are, however, responsible for the full premium but still at the group rate.
Comparison shopping: researching multiple products to see which have the specific features and qualities you want before you make a purchasing decision.
Consumer Reports: product evaluations published by the independent testing group, Consumers Union.
Contingent beneficiary: the person designated to receive life insur- ance policy proceeds if the primary beneficiary should die before the person whose life is insured.
Convertible term insurance: a type of policy that allows the policy owner to change a term insurance policy to a permanent policy without providing evidence of insurability.
Customer database: a repository of names and information collected by a retail company.
Data collection system: tracks what customers purchase and gathers information about customers.
Death benefit: the cash provided to your family after your death by life insurance; there is no federal income tax on life insurance benefits.
Disability insurance: replaces your income if you’re unable to work.
Distance Learning: college degree programs provided on the Internet making it possible to study at home, at work during a lunch break, on vacation, while traveling on business.