Definition - What does Insurance Exchange mean?
An insurance exchange is a marketplace for insurance, commonly used in health insurance.
By signing the Affordable Care Act, President Obama created an insurance exchange in which people can choose between plans offered by the state government, the federal government, or private insurers. Insurance exchanges are designed to encourage competition.
Insuranceopedia explains Insurance Exchange
Because of the Affordable Care Act, insurance exchanges are not allowed to deny people coverage due to pre-existing conditions.
The primary benefit of insurance exchanges is that they give consumers the opportunity to choose from many different insurance plans.
How Well Do You Know Your Life Insurance?
The more you know about life insurance, the better prepared you are to find the best coverage for you.
Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.