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TeachMeFinance.com - explain Hail Index Hail Index -- An indication of whether the thunderstorm structure of each storm identified is conducive to the production of hail. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.