Terms Used In California Codes > Insurance Code > Division 2 > Part 2 > Chapter 7 - Disability Insurance Disclosure

• Appraisal: A determination of property value.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Benefits and coverage: means the accident, sickness or disability indemnity available under a policy of disability insurance. See California Insurance Code 10601
• Claim: means a demand for payment for any of the following, whether due, not due, accrued or not accrued, or contingent, and whether liquidated or unliquidated:

  California Probate Code 9000

• Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
• court supervision: means the judicial order, authorization, approval, confirmation, or instructions that would be required if authority to administer the estate had not been granted under this part. See California Probate Code 10401
• Decedent: A deceased person.
• Disability insurance: means every policy of disability insurance, self-insured employee welfare benefit plan, and nonprofit hospital service plan issued, delivered, or entered into pursuant to or described in Chapter 1 (commencing with Section 10110), Chapter 4 (commencing with Section 10270), or Chapter 11A (commencing with Section 11491) of this part. See California Insurance Code 10601
• Disclosure form: means the standard supplemental disclosure form required pursuant to Section 10603. See California Insurance Code 10601
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Exception: means any provision in a policy whereby coverage for a specified hazard or condition is entirely eliminated. See California Insurance Code 10601
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Family allowance: means an allowance provided for in Chapter 4 (commencing with Section 6540) of Part 3 of Division 6. See California Probate Code 38
• Financial institution: means a state or national bank, state or federal savings and loan association or credit union, or like organization. See California Probate Code 40
• Insurer: means every insurer transacting disability insurance, every self-insured employee welfare plan, and every nonprofit hospital service plan specified in subdivision (e). See California Insurance Code 10601
• interested person: includes any of the following:

  California Probate Code 48

• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Limitation: means any provision other than an exception or a reduction which restricts coverage under the policy. See California Insurance Code 10601
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means an individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, limited liability company, association, or other entity. See California Probate Code 56
• Personal property: All property that is not real property.
• Personal representative: means executor, administrator, administrator with the will annexed, special administrator, successor personal representative, public administrator acting pursuant to Section 7660, or a person who performs substantially the same function under the law of another jurisdiction governing the person's status. See California Probate Code 58
• Property: means anything that may be the subject of ownership and includes both real and personal property and any interest therein. See California Probate Code 62
• Reduction: means any provision in a policy which reduces the amount of a policy benefit to some amount or period less than would be otherwise payable for medically authorized expenses or services had such a reduction not been used. See California Insurance Code 10601
• Security: includes any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease, collateral trust certificate, transferable share, voting trust certificate or, in general, any interest or instrument commonly known as a security, or any certificate of interest or participation, any temporary or interim certificate, receipt, or certificate of deposit for, or any warrant or right to subscribe to or purchase, any of the foregoing. See California Probate Code 70
• State: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. See California Probate Code 74
• State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
• Trust: includes the following:

  California Probate Code 82

• Will: includes codicil and any testamentary instrument which merely appoints an executor or revokes or revises another will. See California Probate Code 88