Insurance terminology: Premium, deductible, co-pay, coinsurance, and more
Insurance coverage works best when you know the terms.© Africa Studio/stock.adobe.com, © Leo Lintang/stock.adobe.com; Photo illustration Encyclopædia Britannica, IncWhich do you find more confusing: reading your insurance policy or trying to decipher the jargon in an auto insurance claim or medical explanation of benefits (EOB) form? Deductible, co-pay, coinsurance, out-of-pocket maximum—sometimes the language is more painful than the fender...