Term of The Week
Stop Loss:
In most major medical insurance policies, after you pay your deductible, you and your insurance company share in the cost of covered medical expenses up to a certain specified amount. The total that you are obligated pay out of your pocket for covered medical service and supplies during the policy year is your stop loss.
Larry's Tip of The Week
Many travelers head off on vacation each year without giving any thought to their insurance needs. Are you one of them? You may think that you've planned your vacation down to the last detail, but there's always something that gets left behind. Don't let it be your insurance.
What if the weather takes your vacation by storm?
You've been saving for months and planning the perfect getaway. But what if the luxurious beachfront home you've rented gets washed away with the tide, right in the middle of your vacation? Your vacation would likely come to an abrupt halt, but it doesn't have to be a total loss. You can purchase trip interruption insurance before you go. It's designed to reimburse you up to the amount you paid for your vacation home. But before buying it (perhaps through the agency that rented you the home), read the policy so you'll know what's covered.
Reference: insurance.com