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Glossary O

Obsolescence

Obsolescence – the state of being outdated or no longer useful.

  1. Actual Cash Value Vs. Depreciation: Insurance (Clarified)
  2. Actual Loss Vs. Constructive Loss: Insurance Claims (Defined)

Occupancy type

  1. Actual Cash Value Vs. Agreed Value: Insurance (Clarified)

Occupation

  1. Short-Term Vs. Long-Term Disability: Insurance (Details)
  2. Accidental Death Vs. Dismemberment: Insurance (Guide)
  3. Disability Insurance Vs. Workers’ Compensation: Which One Protects You More?
  4. Term Life Insurance Vs. Accidental Death And Dismemberment: Which One Is Better?
  5. Guaranteed Vs. Reviewable Premiums: Insurance (Decoded)
  6. Underwriting Vs. Claims: The Insurance (Process)
  7. What Challenges Do Insurance Agents Face Regarding Underwriting Practices? (10 Important Questions Answered)
  8. Group Vs Individual Insurance: Which to Choose? (Decision)
  9. Death Benefit Vs. Cash Value: Life Insurance (Clarity)
  10. Claim Vs. Premium: Deciphering Insurance (Jargon)
  11. Actual Cash Value Vs. Agreed Value: Insurance (Clarified)
  12. Disability Insurance Vs. Long-Term Care Insurance: Which One Do You Need More As You Age?
  13. What Are The Major Types Of Insurance? (9 Simple Questions Answered)
  14. Exclusions Vs. Exceptions: Insurance Policy (Nuances)
  15. Critical Illness Insurance Vs. Disability Insurance: Which One Do You Need More?
  16. Loss Vs. Damage: Insurance Claims (Interpreted)
  17. Property Vs. Casualty Insurance: Key Aspects (Defined)
  18. Actual Cash Value Vs Replacement Cost: Insight (Uncovered)
  19. Umbrella Insurance Vs. Excess Liability: What’s The Difference?

Occupation and income level

  1. First-Party Vs. Third-Party Insurance: Roles (Unveiled)

Occupation and lifestyle factors

  1. Guaranteed Vs. Reviewable Premiums: Insurance (Decoded)

Occupation classification

The categorization of an individual’s job or profession for insurance purposes.

  1. Group Vs Individual Insurance: Which to Choose? (Decision)

Occupation or profession of the insured

The job or career of the person covered by an insurance policy.

  1. Loss Vs. Damage: Insurance Claims (Interpreted)

Occurrence-based policy

An insurance policy that provides coverage for claims that arise from a specific event or incident.

  1. Umbrella Vs Excess Liability: Exploring Insurance (Layers)
  2. Compensation Vs. Damages: Insurance Negotiation (Unpacked)
  3. Bodily Injury Vs. Personal Injury: Insurance (Distinction)
  4. Umbrella Vs. Excess Coverage: Liability Insurance (Decoded)
  5. Property Vs. Casualty Insurance: Key Aspects (Defined)

Occurrence limit

  1. Umbrella Vs. Excess Coverage: Liability Insurance (Decoded)

Occurrence policy

  1. Occurrence Vs. Claims-Made: Understanding Liability Policies (Unraveled)

Ombudsman

  1. Claim Dispute Vs. Complaint: Navigating Insurance (Challenges)

Open access model

A type of insurance plan that allows individuals to see any healthcare provider without a referral.

  1. HMO Vs PPO: Navigating Health Insurance (Plans)

Open access plans

  1. Open Vs. Closed Insurance: Navigating the (System)

Open enrollment

  1. Indemnity Vs. Managed Care: Health Insurance (Unveiled)
  2. Open Vs. Closed Insurance: Navigating the (System)
  3. Group Vs Individual Insurance: Which to Choose? (Decision)
  4. Health Savings Account Vs. Flexible Spending Account: Which One Is Better For You?
  5. Short-Term Health Insurance Vs. Long-Term Health Insurance: Which One Is Better?

Open enrollment period

The period of time during which individuals can enroll in or make changes to their insurance coverage.

  1. Co-payment Vs Co-insurance: Decoding Health Insurance (Terms)
  2. Group Vs Individual Insurance: Which to Choose? (Decision)
  3. Health Savings Account Vs. Flexible Spending Account: Which One Is Better For You?
  4. HMO Vs PPO: Navigating Health Insurance (Plans)
  5. Medicare Advantage Vs. Medigap: Which One Is The Best Option For You?
  6. Open Vs. Closed Insurance: Navigating the (System)
  7. Short-Term Health Insurance Vs. Long-Term Health Insurance: Which One Is Better?

Opening statements

  1. Claim Vs. Suit: Understanding Legal Implications (Unpacked)
  2. Insurance Defense Vs. Personal Counsel: Legalities (Explained)

Ordinance or law insurance

  1. Dwelling Vs. Personal Property: Home Insurance (Focus)

Out-of-network care

  1. HMO Vs PPO: Navigating Health Insurance (Plans)
  2. Open Vs. Closed Insurance: Navigating the (System)
  3. Claim Vs. Appeal: Understanding Insurance (Processes)
  4. Health Maintenance Organization Vs. Preferred Provider Organization: Which One Is Better?

Out-of-network costs

Expenses incurred when receiving care from a provider that is not in the patient’s insurance network.

  1. Claim Vs. Appeal: Understanding Insurance (Processes)
  2. Primary Vs. Secondary: Unpacking Health Insurance (Coverage)
  3. Open Vs. Closed Insurance: Navigating the (System)
  4. HMO Vs PPO: Navigating Health Insurance (Plans)
  5. International Health Insurance Vs. Domestic Health Insurance: Which One Offers Better Coverage?

Out-of-network cost-sharing

The amount an individual must pay for medical services received from out-of-network providers.

  1. Co-payment Vs Co-insurance: Decoding Health Insurance (Terms)
  2. Indemnity Vs. Managed Care: Health Insurance (Unveiled)

Out-of-network cost-sharing requirements

The percentage of costs that a patient must pay for out-of-network care.

  1. Primary Vs. Secondary: Unpacking Health Insurance (Coverage)

Out-of-network deductibles

The amount a patient must pay before insurance coverage begins for out-of-network providers.

  1. Coinsurance Vs. Copay: Health Insurance (Comparison)

Out-of-network providers

Healthcare providers who are not part of an insurance plan’s network.

  1. Claim Vs. Appeal: Understanding Insurance (Processes)
  2. Out-of-Pocket Maximum Vs. Deductible: Costs (Explored)
  3. Indemnity Vs. Managed Care: Health Insurance (Unveiled)
  4. Deductible Vs. Out-Of-Pocket Limit: Insurance (Costs)
  5. HMO Vs PPO: Navigating Health Insurance (Plans)
  6. Medicare Vs. Medicaid: Navigating Public Insurance (Options)
  7. Primary Vs. Secondary: Unpacking Health Insurance (Coverage)
  8. Co-payment Vs Co-insurance: Decoding Health Insurance (Terms)
  9. Open Vs. Closed Insurance: Navigating the (System)
  10. Coinsurance Vs. Copay: Health Insurance (Comparison)
  11. Group Vs Individual Insurance: Which to Choose? (Decision)
  12. Health Maintenance Organization Vs. Preferred Provider Organization: Which One Is Better?

Out-of-pocket

The amount an individual must pay for medical expenses that are not covered by insurance.

  1. Deductible Vs. Premium: Which One Saves You More Money?
  2. Stacking Vs. Unstacking: Understanding Insurance (Coverage)
  3. Claim Vs. Appeal: Understanding Insurance (Processes)
  4. Open Vs. Closed Insurance: Navigating the (System)
  5. Out-of-Pocket Maximum Vs. Deductible: Costs (Explored)
  6. Peril Vs. Hazard: Understanding Home Insurance (Terminology)
  7. HMO Vs PPO: Navigating Health Insurance (Plans)
  8. Health Maintenance Organization Vs. Preferred Provider Organization: Which One Is Better?
  9. Group Vs Individual Insurance: Which to Choose? (Decision)
  10. Medicare Advantage Vs. Medigap: Which One Is The Best Option For You?
  11. Deductible Vs. Out-Of-Pocket Limit: Insurance (Costs)
  12. Co-payment Vs Co-insurance: Decoding Health Insurance (Terms)
  13. Primary Vs. Secondary: Unpacking Health Insurance (Coverage)
  14. Single Limit Vs. Split Limit: Auto Insurance (Clarified)
  15. Liability Vs. Comprehensive Auto Insurance: Which One Do You Need?
  16. Pet Insurance Vs. Pet Wellness Plans: Which One Covers More?
  17. Policy Limit Vs. Actual Damages: Insurance (Debunked)
  18. Property Vs. Casualty Insurance: Key Aspects (Defined)
  19. Medicare Vs. Medicaid: Navigating Public Insurance (Options)
  20. Car Insurance Vs. Rental Car Insurance: Are You Covered In A Rental Car?
  21. Insured Vs. Insurer: Grasping Insurance (Roles)
  22. What Are the Most Common Causes of Losses in Insurance Agencies? (10 Important Questions Answered)
  23. Liability Insurance Vs. Property Insurance: Which One Do You Need More For Your Business?
  24. Term Life Insurance Vs. Accidental Death And Dismemberment: Which One Is Better?
  25. Individual Health Insurance Vs. Group Health Insurance: Which One Is More Affordable?
  26. Homeowners Insurance Vs. Title Insurance: What’s The Difference?
  27. Exclusions Vs. Exceptions: Insurance Policy (Nuances)
  28. Comprehensive Vs Collision: Understanding Auto Insurance (Basics)
  29. Collision Coverage Vs. Comprehensive Coverage: Which One Do You Need For Your Car?
  30. How Does Collision Insurance Work? (10 Important Questions Answered)
  31. Coinsurance Vs. Copay: Health Insurance (Comparison)
  32. Catastrophic Health Insurance Vs. Comprehensive Health Insurance: Which One Is Right For You?
  33. Loss Vs. Damage: Insurance Claims (Interpreted)
  34. Travel Insurance Vs. Medical Insurance: Which One Covers You Better Abroad?

Out-of-pocket costs

Expenses that are not covered by insurance and must be paid by the patient.

  1. Out-of-Pocket Maximum Vs. Deductible: Costs (Explored)
  2. Primary Vs. Secondary: Unpacking Health Insurance (Coverage)
  3. Indemnity Vs. Managed Care: Health Insurance (Unveiled)
  4. Open Vs. Closed Insurance: Navigating the (System)
  5. Medicare Vs. Medicaid: Navigating Public Insurance (Options)
  6. HMO Vs PPO: Navigating Health Insurance (Plans)
  7. Claim Vs. Appeal: Understanding Insurance (Processes)
  8. Medicare Advantage Vs. Medigap: Which One Is The Best Option For You?
  9. Health Maintenance Organization Vs. Preferred Provider Organization: Which One Is Better?
  10. Co-payment Vs Co-insurance: Decoding Health Insurance (Terms)
  11. Coinsurance Vs. Copay: Health Insurance (Comparison)
  12. Group Vs Individual Insurance: Which to Choose? (Decision)
  13. International Health Insurance Vs. Domestic Health Insurance: Which One Offers Better Coverage?
  14. Property Vs. Casualty Insurance: Key Aspects (Defined)
  15. Individual Health Insurance Vs. Group Health Insurance: Which One Is More Affordable?
  16. Actual Cash Value Vs Replacement Cost: Insight (Uncovered)
  17. Catastrophic Health Insurance Vs. Comprehensive Health Insurance: Which One Is Right For You?
  18. Health Savings Account Vs. Flexible Spending Account: Which One Is Better For You?
  19. Loss Vs. Damage: Insurance Claims (Interpreted)
  20. First-Party Vs. Third-Party Insurance: Roles (Unveiled)
  21. Fault Vs. No-Fault: Auto Insurance Claims (Explained)
  22. Deductible Vs. Premium: Which One Saves You More Money?
  23. Deductible Vs. Out-Of-Pocket Limit: Insurance (Costs)
  24. Personal Property Insurance Vs. Business Property Insurance: What’s The Difference?
  25. Policyholder Vs. Claimant: Understanding the Difference (Decoded)
  26. Claim Vs. Premium: Deciphering Insurance (Jargon)
  27. Public Vs. Private Health Insurance: Pros and Cons (Discussed)
  28. Stated Value Vs. Agreed Value: Insurance Coverage (Unraveled)
  29. Umbrella Vs Excess Liability: Exploring Insurance (Layers)

Out-of-pocket expenses

Medical expenses that are not covered by insurance and must be paid by the individual.

  1. Co-payment Vs Co-insurance: Decoding Health Insurance (Terms)
  2. Claim Vs. Appeal: Understanding Insurance (Processes)
  3. Rider Vs. Endorsement: Amplifying Your Insurance (Options)
  4. Public Vs. Private Health Insurance: Pros and Cons (Discussed)
  5. Exclusions Vs. Exceptions: Insurance Policy (Nuances)
  6. Total Loss Vs. Repairable: Auto Insurance Claims (Clarified)
  7. Catastrophic Health Insurance Vs. Comprehensive Health Insurance: Which One Is Right For You?
  8. Comprehensive Vs Collision: Understanding Auto Insurance (Basics)
  9. Group Vs Individual Insurance: Which to Choose? (Decision)
  10. Policy Limit Vs. Actual Damages: Insurance (Debunked)
  11. Health Maintenance Organization Vs. Preferred Provider Organization: Which One Is Better?
  12. Coinsurance Vs. Copay: Health Insurance (Comparison)
  13. Open Vs. Closed Insurance: Navigating the (System)
  14. Insured Vs. Insurer: Grasping Insurance (Roles)
  15. Primary Vs. Secondary: Unpacking Health Insurance (Coverage)
  16. HMO Vs PPO: Navigating Health Insurance (Plans)
  17. Policyholder Vs. Claimant: Understanding the Difference (Decoded)
  18. Deductible Vs. Premium: Which One Saves You More Money?
  19. How Does Collision Insurance Work? (10 Important Questions Answered)
  20. Peril Vs. Hazard: Understanding Home Insurance (Terminology)
  21. Occurrence Vs. Claims-Made: Understanding Liability Policies (Unraveled)
  22. Underinsured Vs. Uninsured: Motorist Coverage (Demystified)
  23. Medicare Vs. Medicaid: Navigating Public Insurance (Options)
  24. Medicare Advantage Vs. Medigap: Which One Is The Best Option For You?
  25. Single Limit Vs. Split Limit: Auto Insurance (Clarified)
  26. Third-Party Liability Insurance Vs. First-Party Insurance: What’s The Right Choice For You?
  27. Indemnity Vs. Subrogation: Insurance Terms (Simplified)
  28. Homeowners Vs. Renters Insurance: What’s the Difference? (Explained)
  29. Compensation Vs. Damages: Insurance Negotiation (Unpacked)
  30. Claim Adjuster Vs. Public Adjuster: Roles (Defined)
  31. Bodily Injury Vs. Personal Injury: Insurance (Distinction)
  32. Individual Health Insurance Vs. Group Health Insurance: Which One Is More Affordable?
  33. Travel Insurance Vs. Medical Insurance: Which One Covers You Better Abroad?
  34. Actual Cash Value Vs. Functional Replacement Cost (Decoded)
  35. Actual Cash Value Vs Replacement Cost: Insight (Uncovered)
  36. Subrogation Vs. Indemnity: Complex Insurance Terms (Simplified)
  37. Stated Value Vs. Agreed Value: Insurance Coverage (Unraveled)
  38. Stacking Vs. Unstacking: Understanding Insurance (Coverage)
  39. Actual Loss Vs. Constructive Loss: Insurance Claims (Defined)
  40. Short-Term Health Insurance Vs. Long-Term Health Insurance: Which One Is Better?
  41. All-Risk Vs. Named-Peril: Insurance Policies (Decoded)
  42. Car Insurance Vs. Rental Car Insurance: Are You Covered In A Rental Car?
  43. Umbrella Vs Excess Liability: Exploring Insurance (Layers)
  44. Claim Vs. Premium: Deciphering Insurance (Jargon)
  45. How Can I Get Comprehensive Car Insurance Coverage? (9 Simple Questions Answered)
  46. Dwelling Vs. Personal Property: Home Insurance (Focus)
  47. Negligence Vs. Liability: Deciphering Insurance (Terms)
  48. First-Party Vs. Third-Party Insurance: Roles (Unveiled)
  49. Homeowners Insurance Vs. Flood Insurance: Are You Fully Covered?
  50. Liability Vs Full Coverage: Car Insurance (Dilemma)
  51. International Health Insurance Vs. Domestic Health Insurance: Which One Offers Better Coverage?
  52. Property Damage Vs. Bodily Injury: Claims (Defined)
  53. Accidental Death Vs. Dismemberment: Insurance (Guide)

Out-of-pocket expenses differences

  1. Public Vs. Private Health Insurance: Pros and Cons (Discussed)

Out-of-pocket limit

  1. Deductible Vs. Out-Of-Pocket Limit: Insurance (Costs)
  2. Medicare Advantage Vs. Medigap: Which One Is The Best Option For You?
  3. Primary Vs. Secondary: Unpacking Health Insurance (Coverage)

Out-of-pocket maximums

The maximum amount an individual will have to pay for covered medical expenses in a given period.

  1. Out-of-Pocket Maximum Vs. Deductible: Costs (Explored)
  2. Co-payment Vs Co-insurance: Decoding Health Insurance (Terms)
  3. Coinsurance Vs. Copay: Health Insurance (Comparison)
  4. Catastrophic Health Insurance Vs. Comprehensive Health Insurance: Which One Is Right For You?
  5. HMO Vs PPO: Navigating Health Insurance (Plans)
  6. Primary Vs. Secondary: Unpacking Health Insurance (Coverage)
  7. Stacking Vs. Unstacking: Understanding Insurance (Coverage)
  8. Claim Vs. Appeal: Understanding Insurance (Processes)
  9. Group Vs Individual Insurance: Which to Choose? (Decision)
  10. Indemnity Vs. Managed Care: Health Insurance (Unveiled)
  11. Open Vs. Closed Insurance: Navigating the (System)
  12. Medicare Vs. Medicaid: Navigating Public Insurance (Options)

Outpatient care

Medical treatment that does not require an overnight hospital stay.

  1. HMO Vs PPO: Navigating Health Insurance (Plans)

Overlapping policies

When a person has multiple insurance policies that cover the same thing, resulting in potential overpayment.

  1. Policy Limit Vs. Actual Damages: Insurance (Debunked)

Ownership rights

  1. Beneficiary Vs. Policyholder: The Critical Distinction (Defined)
  2. Homeowners Insurance Vs. Title Insurance: What’s The Difference?

Own Occupation Definition

  1. Short-Term Vs. Long-Term Disability: Insurance (Details)

Own occupation definition of disability

  1. Short-Term Vs. Long-Term Disability: Insurance (Details)