Glossary

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Gag Clause/Gag Rule

A provision in some managed care insurance contracts that forbids doctors from discussing with patients all available treatment options or from disclosing financial incentives they may receive by limiting or denying care.

Gatekeeper

In an HMO, the primary care doctor who coordinates all of a patient’s necessary diagnostic testing and specialty referrals.

General Agent

An insurance company representative in a given territory. A true general agent is an independent contractor compensated on a commission basis. In practice, in the life and health fields, the general agent may receive certain expense subsidies from the company for office operation and training of new agents.

Grace Period

The period of time (usually one month) after a premium due date during which the insurance policy remains in force without penalty even though the premium has yet to be paid.

Group Contract

A contract of insurance made with an employer or other entity that covers a group of persons by virtue of their relationship to the entity. A group contract may be for life insurance, health insurance or an annuity.

Guaranteed Insurability Rider

In a health or life insurance policy, an attached rider that permits the insured to purchase additional insurance on one or more specified "option dates" without providing new evidence of insurability at that time.

Guaranteed Renewable

A contract that the insured has the right to continue, by the timely payment of premiums, for a substantial period of time, during which the insurance company may not make any change in the contract other than to the premium rate for general classes of policyholders.

Guaranteed Replacement Cost Coverage

Entitles the policyholder to a guaranteed replacement of lost or damaged items, regardless of their cost.
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