Brought to you by Alison Gordon Insurance Services, Inc. CA license #0780178

Cash Value

In a Whole Life life insurance policy, the money you would be paid if you cancel your Whole Life policy; you can also borrow against the Cash Value

Whole Life Insurance

Along with its siblings, Universal and Variable, combines life insurance with an investment feature (also known as the Cash Value)

Term Life Insurance

Pure life insurance that protects you for a fixed period of time, no bells and whistles here

Health Savings Account

A very good, smart money management tool which allows you to save tax free money to pay for medical expenses

Out-of-Network

A doctor, lab or hospital who can charge you as much as they like (watch out!)

In-Network

A doctor, lab or hospital who is contracted with the insurance company and who must discount their fees for you

Non-Formulary

Any drug not on the formulary (a comprehensive list of pre-approved drugs, generic and brand name, that an insurance company will cover). You get no coverage for it.

Out-Of-Pocket Maximum

The most medical expenses you are responsible for in any calendar year

Professional Services

All medical services you receive, from a doctor, lab, hospital, etc.

Office Visit Fee

What the doctors charge you just for showing up and reading old magazines; sometimes you pay only a co-pay