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general insurance terms and definitions pdf

terminology used in insurance

general insurance terminology

basic insurance terminology

insurance terminology pdf

life insurance terms and concepts

life insurance terminology and definitions

terminologies used in insurance premium

Term life insurance language seems to have come from another planet. Who can understand it? Well, this non-Martian life insurance glossary should help.
13 Feb 2014 Assurance. Terminology used to describe life insurance. This is common practice in Great Britain, Canada and South Africa. Insurance is usually used for the description of short-term insurance. However, the term insurance is used indiscriminately to describe both life and short-term insurance in practice.
INSURANCE GLOSSARY. Abandonment: As used in property insurance, prohibits the insured from abandoning damaged property to the insurance company for repair or disposal. Accelerated Benefits Rider: An adjustment (rider) to a life insurance policy that allows for the early payment of some portion of the policy's face
Insurance Terms Glossary. A. Accidental Death Benefit - In a life insurance policy, benefit in addition to the death benefit paid to the beneficiary, should death occur due to an accident. There can be certain exclusions as well as time and age limits. Actual Cash Value - Cost of replacing damaged or destroyed property with
Complete Glossary of Insurance Terminology. A. 1. AAI. Accreditied Adviser in Insurance, a designation awarded by the Insurance. Institute of America to people who have completed a three-semester educational program designed for insurance producers. 2. accelerated benefits. Benefits available in some life insurance
Life Insurance: Glossary of Terms. Accumulation Value: Term used in Universal Life policies to describe the total of all premiums and earnings credited to the account before deductions for any expenses, loans, and surrenders. Adjustable Life: Form of life insurance allowing the owner to change the face amount, premium
Life Insurance Resource Center. Glossary Of Life Insurance Terms. Agent - An insurance company representative licensed by the state who solicits and negotiates contracts of insurance, and provides service to the policyholder for the insurer. An agent can be independent agent who represents at least two insurance
Life Insurance Glossary. Lesson 1. Beneficiary. The person named in a life insurance policy as the recipient of the insurance money in the event of the insured person's death. Cash surrender value. The amount available in cash upon the policy owner's termination of a permanent life insurance policy before it matures or.
companies to sell life insurance and investment products for that company (or companies). Annual Premium. The amount of money which must be paid annually to keep a life insurance policy going. Annualised Premium Income (API). The annualised dollar amount expected to be received by a life office, as payment for.
Glossary of terms. Beneficiary - This is the person to whom the death benefit will be paid. Cash Value - Amount that pays out upon the policyholder's death, and also accumulates value during the policyholder's lifetime. Death Benefit (Face Amount) - This is the dollar amount that will be paid out to a beneficiary when the

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March 2018