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Glossary for Insurance


Source Money Control

 

  • Abstract
  • Accelerated death benefit
  • Accident & Accidental Death Benefit
  • Accident and health insurance
  • Accidental death benefit
  • Accidental Death Insurance
  • Accounts receivable (debtors) insurance
  • Accumulation Period
  • Activities of daily living
  • Acts of god
  • Actual cash value
  • Actual loss ratio
  • Actuarial cost assumptions
  • Actuarial Cost Method
  • Actuary
  • AD&D
  • Additional insureds
  • Additional living expenses
  • Adjustable Life Insurance
  • Adjuster
  • Admitted company
  • Adverse selection
  • Affinity sales
  • Affirmative warranty
  • After Tax Rupees
  • Age Limits
  • Agent
  • Agent (Life Advisor)
  • Aggregate deductible
  • Aggregate limits
  • Aleatory contract
  • All-risk agreement
  • Alternative dispute resolution (ADR)
  • Alternative markets
  • Ancillary charges
  • Annual statement
  • Annual-premium annuity
  • Annuitant
  • Annuity Certain
  • Annuity Consideration
  • Annuity units
  • Apportionment
  • Appraisal
  • Arbitration
  • Arson
  • Assessable policy
  • Asset-backed securities
  • Assign
  • Assignee
  • Assignor
  • Asymmetric information
  • Attained Age
  • Authority
  • Auto insurance premium
  • Automatic coverage
  • Automatic treaty
  • Average adjusters
  • Aviation insurance
  • Bailment
  • Basic health insurance policy
  • Beneficiary
  • Benefit Period
  • Bind
  • Binder
  • Blanket bond
  • Blanket coverage
  • Boiler and machinery insurance
  • Bonus
  • Book of business
  • Burglary
  • Burglary and theft insurance
  • Business income insurance
  • Business interruption insurance
  • Business pursuit
  • Businessowners policy
  • Cancelable
  • Capacity
  • Captive agent
  • Captive insurer
  • Captives
  • Case management
  • Cash Surrender Value
  • Cash value
  • Cash value option
  • Catastrophe
  • Catastrophe bonds
  • Catastrophe deductible
  • Catastrophe factor
  • Catastrophe model
  • Catastrophe reinsurance
  • Ceding company
  • Cession
  • Chance of loss
  • Chief risk officer (CRO)
  • Civil law
  • Claim
  • Claim Amount
  • Claims management
  • Claims-made policy
  • Coinsurance
  • Collateral
  • Collision coverage
  • Combined ratio
  • Commercial general liability (CGL)
  • Commercial lines
  • Commercial paper
  • Commercial umbrella
  • Commission
  • Common disaster clause
  • Common law
  • Completed operations coverage
  • Comprehensive coverage
  • Compulsory auto insurance
  • Concealment
  • Concurrent causation
  • Concurrent loss control
  • Conditional contract
  • Conditional Receipt
  • Conditionally renewable
  • Conditions
  • Consequential damage endorsement
  • Consequential losses
  • Consideration
  • Constructive total loss
  • Contestable Clause
  • Contingent Beneficiary
  • Contingent business income insurance
  • Contingent liability
  • Contract
  • Contract construction bond
  • Contract of adhesion
  • Contractors’ Equipment floater
  • Contracts without time element
  • Contractual liability
  • Contributory negligence
  • Convertible
  • Cost of risk
  • Cost-of-living rider
  • Cost-to-repair basis
  • Coverage
  • Credit
  • Credit derivatives
  • Credit enhancement
  • Credit insurance
  • Credit life insurance
  • Criminal law
  • Critical Illness Rider
  • Date of commencement
  • Death Benefit
  • Declaration
  • Decreasing term
  • Deductible
  • Defensive medicine
  • Deferment date
  • Deferment period
  • Deferred annuity
  • Degree of risk
  • Dependent life
  • Diminution of value
  • Direct loss
  • Direct premiums
  • Direct response
  • Direct sales/ direct response
  • Direct writers
  • Directors and officers liability insurance (D&O)
  • Disability income insurance
  • Disability loss
  • Disappearing deductible
  • Double Cover
  • Double Indemnity
  • Dynamic risks
  • Earned premium
  • Earnings form
  • Earnings multiple approach
  • Earthquake insurance
  • Economic loss
  • Electronic commerce / e-commerce
  • Elimination period
  • Employee stock ownership plans (ESOPS)
  • Employment practices liability coverage
  • Endorsement
  • Endowment
  • Endowment insurance
  • Endowment Plan
  • Enterprise risk management
  • Entire contract clause
  • Environmental impairment liability coverage
  • Equal shares
  • Equity
  • Errors and omissions coverage (E&O)
  • Escrow account
  • Estate taxes
  • Estoppel
  • Evidence of Insurability
  • Excess of loss reinsurance
  • Exclusion
  • Exclusive agent
  • Expected loss ratio
  • Expediting expenses
  • Expense ratio
  • Experience
  • Experience rating
  • Expiry
  • Exposure
  • Exposure doctrine
  • Express warranty
  • Extended coverage
  • Extended Term Insurance
  • Extra expense insurance
  • Face amount
  • Facultative reinsurance
  • Fair rental value
  • Family Policy
  • Fidelity bond
  • Fiduciary bond
  • Fiduciary liability
  • Final Expenses
  • Financial risks
  • Financial statement analysis
  • Financing
  • Fire
  • Fire insurance
  • First Unpaid Premium(FUP)
  • Fixed annuity
  • Fixed-amount option
  • Fixed-period option
  • Floater
  • Floater policy
  • Flood
  • Floor-of-protection concept
  • Free-of-capture-and-seizure (FC&S) clause
  • Freight
  • Frequency reduction
  • Friendly fire
  • Fronting
  • General average clause
  • Grace Period
  • Grace period clause
  • Graded Premium Policy
  • Gross premium
  • Group insurance
  • Group Life Insurance
  • Guaranteed Addition
  • Guaranteed Insurability (guaranteed issue)
  • Guaranteed renewable
  • Guaranteed Term
  • Hacker insurance
  • Hard market
  • Hazards
  • Homeowners insurance policy
  • Hospice
  • Hospital insurance
  • Hostile fire
  • Hull insurance
  • Human life value
  • Identity theft insurance
  • Immediate annuity
  • Implied warranties
  • Imputed acts
  • In Force
  • Inboard watercraft
  • Income tax Liability
  • Incontestability clause
  • Increasing term
  • Increasing term insurance
  • Incurred but not reported losses (IBNR)
  • Incurred losses
  • Indemnify
  • Independent adjuster
  • Independent agent
  • Indirect loss
  • Inflation guard clause
  • Inflation rates
  • Inherent nature of the goods
  • Inland marine insurance
  • Inland transit policy
  • Insurability
  • Insurable interest
  • Insurable risk
  • Insurable value
  • Insurance
  • Insurance plan term
  • Insurance plan value
  • Insurance Policy
  • Insurance proceeds
  • Insurance rate
  • Insured
  • Insured pension plans
  • Insurer
  • Insuring agreement
  • Integrated risk management
  • Internet insurer
  • Internet liability insurance
  • Intestacy laws
  • Intestate
  • Investment income
  • Involuntary coverage
  • IRDA
  • Irrevocable beneficiary
  • Joint and several liability
  • Joint and x percent survivor annuity
  • Key employee
  • Key person insurance
  • Kidnap/ransom insurance
  • Lack of privity
  • Lapse
  • Larceny
  • Large-loss principle
  • Last Birth Day (l.b.d)
  • Last clear chance rule
  • Law of large numbers
  • Leasehold
  • Legal injury
  • Liability insurance
  • Libel
  • Life Annuity
  • Life Assured
  • Life Expectancy Tables
  • Life insurance
  • Lifetime maximum
  • Limited Pay Policy
  • Lloyd’s of London
  • Loading
  • Long-term care
  • Long-term care insurance
  • Long-term care rider
  • Loss
  • Loss adjustment expenses
  • Loss control
  • Loss costs
  • Loss exposure
  • Loss exposure checklist
  • Loss of use
  • Loss ratio
  • Loss reserves
  • Loss settlement clause
  • Loyalty Additions
  • Malpractice insurance
  • Manifestation doctrine
  • Marine insurance
  • Material
  • Maturity Date
  • Maximum possible loss
  • Mediation
  • Medical
  • Medical payments
  • Medical payments insurance
  • Mine subsidence coverage
  • Misrepresentation
  • Misstatement-of-age clause
  • Misstatement-of-sex clause
  • Money Back Plan
  • Moral hazard
  • Mortality Charge
  • Mortality Cost
  • Mortality Rate
  • Mortality table
  • Mortgage clause
  • Mortgage insurance
  • Mortgage-backed securities
  • Mortgagee
  • Multiple peril policy
  • Name
  • Named insured
  • Named peril
  • Named-perils agreement
  • Near Birth Day(n.b.d)
  • Negative act
  • Negligence
  • Net present value
  • No-fault
  • No-pay, no-play
  • Nomination
  • Nominee
  • Non Medical Insurance
  • Non-admitted insurer
  • Non-owned auto
  • Non-participating policy
  • Non-Standard Life
  • Noncancellable
  • Notice of loss
  • Objective risk
  • Obligee
  • Occupational disease
  • Occupational Hazard
  • Occurrence policy
  • Ocean marine insurance
  • Offer and Acceptance
  • Open-perils agreement
  • Opportunity cost
  • Optionally renewable
  • Options
  • Ordinary life insurance
  • Ordinary Life policy
  • Original Age
  • Other insurance clauses
  • Outstanding balance on loans
  • Outstanding debt
  • Ownership
  • Package policy
  • Paidup Value
  • Pain and suffering damages
  • Pair-and-set clause
  • Para-med (paramedical) Examination
  • Partial disability
  • Participating
  • Participating Policy
  • PDB
  • Pensions
  • Per-cause deductible
  • Per-service deductible
  • Peril
  • Permanent disability
  • Personal articles floater
  • Personal coverages
  • Physical hazard
  • Planned retention
  • Policy
  • Policy Bonuses
  • Policy Holder
  • Policy Term
  • Policy writing
  • Policyholder
  • Policyholders surplus
  • Political risk insurance
  • Pollution insurance
  • Pooling
  • Positive act
  • Post-loss activities
  • Pre-existing condition
  • Pre-loss activities
  • Precertification
  • Premature death
  • Premises
  • Premium Flexibility
  • Premium option
  • Premium Waiver Benefit(PWB)
  • Premiums in force
  • Premiums written
  • Primary
  • Primary Beneficiary
  • Primary company
  • Primary Policy
  • Principal
  • Principle of indemnity
  • Private insurance
  • Pro-rata clause
  • Pro-rata treaties
  • Probate
  • Probate Costs
  • Product liability
  • Product liability insurance
  • Production
  • Professional liability
  • Professional liability insurance
  • Profits insurance
  • Promissory warranty
  • Property coverages
  • Property/casualty insurance
  • Proposal Form
  • Proposer
  • Prospect
  • Protection and Indemnity (P&I) clause
  • Provisions
  • Proximate cause
  • Public adjuster
  • Public insurance
  • Punitive damages
  • Pure premium
  • Pure risk
  • Purpose
  • Quota share treaties
  • Rate making
  • Rated
  • Ratification
  • Re-entry Option
  • Reasonable and customary
  • Reasonable expectations
  • Rebating
  • Receivables
  • Reciprocal
  • Reinstatement / Revival
  • Reinstatement clause
  • Reinsurance
  • Reinsurance pool
  • Renewable term
  • Renewal Premiums
  • Rental income
  • Rental value
  • Renters insurance
  • Replacement
  • Replacement cost
  • Representation
  • Requisites of insurable risks
  • Res ipsa loquitur
  • Reserves
  • Respondeat superior
  • Retention
  • Retrocession
  • Retrospective rating
  • Revocable beneficiary
  • Rider
  • Right of survivorship
  • Risk management policy
  • Risk management process
  • Risk manager
  • Risk mapping (risk profiling)
  • Risk reduction
  • Risk retention
  • Risk Selection
  • Risk transfer
  • Risk-based capital
  • Robbery
  • Salvage
  • Schedule
  • Second-to-die life insurance
  • Secondary Beneficiary
  • Securities outstanding
  • Securitization of insurance risk
  • Self-insurance
  • Severity
  • Severity reduction
  • Shortage
  • Single Premium Policy
  • Single-premium annuity
  • Single-premium life
  • Slander
  • Social insurance
  • Social sector
  • Soft market
  • Solvency
  • Special agent
  • Speculative risk
  • Spread of risk
  • Spread-of-loss treaty
  • Standard premium
  • Standard Risk
  • State-mandated benefits
  • Static risks
  • Straight deductible
  • Straight life
  • Straight life annuity
  • Straight term
  • Structured settlement
  • Subjective risk
  • Subrogation
  • Substandard Risk
  • Suicide clause
  • Sum Assured
  • Surety
  • Surety bond
  • Surplus
  • Surrender Charge
  • Surrender or Cash Value
  • Survivorship benefit
  • Target Pension
  • Temporary disabilities
  • Temporary life annuity
  • Term
  • Term contract
  • Term Cover
  • Term insurance
  • Term Insurance Rider
  • Term Life Insurance
  • Tertiary Beneficiary
  • Theft
  • Theft insurance
  • Third-party administrator
  • Third-party Owner
  • Title insurance
  • Tort
  • Tort law
  • Tortfeasor
  • Total disability
  • Total loss
  • Treaties
  • Treaty reinsurance
  • Trustee
  • Twisting
  • Umbrella policy
  • Underinsurance
  • Underwriting income
  • Unearned premium
  • Unfunded retention
  • Unilateral contract
  • Uninsurable risk
  • Unplanned retention
  • Utmost good faith
  • Valued policy
  • Vandalism
  • Variable annuity
  • Vesting Bonus
  • Viatical settlement
  • Vicarious liability
  • Vicarious liability laws
  • Void
  • Voluntary act
  • Voluntary coverage
  • Waiver
  • War hazard exclusion
  • War risk
  • Warranty
  • Weather insurance
  • Whole Life Insurance
  • Will
  • Workers compensation

 

FAQs:
  • Can a policy holder have both paper and electronic policies?
  • Can anyone become or set up an Insurance Repository?
  • Can I take health insurance plan for my parents who are senior citizen? Is there any tax benefit available if I pay premium for them?
  • Can I take two policies and get claims under both of them?
  • Can policy holders have multiple e Insurance Accounts if they have multiple Insurance policies issued by various Insurance Companies?
  • Can the eIA be operated by the Policy holder only?
  • How can Insurance Repository provide free service to policy holders? Where is the catch?
  • How do I collect the maturity amount from the insurance company?
  • How do I convert my existing paper policy into electronic form?
  • How do I open an e Insurance Account (eIA)?
  • How do I reduce the cost of buying life insurance?
  • How do I understand a life insurance Policy?
  • How long will it take for the Insurance Repository to open AN e Insurance Account?
  • How much does life insurance cost?
  • How much health insurance I should opt?
  • How much should I insure for?
  • How much sum assured I should take?
  • How pension plan works?
  • I am already covered by my Employer in a Group Mediclaim policy, do I need to buy a separate policy ? In case of a claim will I get paid from both policies?
  • I am healthy. Why should I take health insurance?
  • I do not believe in taking health insurance instead of that I prefer in creating my own fund.
  • I have not paid premium for some time. Can I revive my policy?
  • I have not paid premium for some time. I want to discontinue my policy. Do I get anything back from the insurance company?
  • I want to save tax and plan for my 1-year old child’s higher education. Which is the good insurance policy for this?
  • If I already have an e IA, how do I buy a new policy in electronic form?
  • If I get heart attack, cancer, stroke will I get covered in a health Insurance policy ?
  • If there are problems with claims what can I do?
  • Is it compulsory for all Insurance Companies to offer electronic policies?
  • Is it compulsory to issue policies in only electronic form? (i.e. is dematerialization of insurance policies compulsory, as in the case of shares?)
  • On what basis is claim paid?
  • Should I buy a life insurance policy even if my employer has insured me in a group insurance scheme?
  • Should I take Life Insurance?
  • Should I use insurance as an investment?
  • There is no return under Term Plan then why should I take Term Plan?
  • What are the basic elements of Life Insurance?
  • What are the benefits of group life insurance?
  • What are the benefits of holding Insurance Policies in electronic form?
  • What are the documents required to open an eIA Account?
  • What are the Tax benefits applicable to me if I invest in a Life Insurance Policy?
  • What are the tax benefits on Health insurance policy ? any additional tax benefits in proposed DTC ?
  • What are the various types of insurances?
  • What coverage available under health insurance plan?
  • What do I do if I need to make any changes to my policy or e IA? Do I submit a request to the Insurance Company or to the Insurance Repository?
  • What do I get if I insure?
  • What do I get if I survive the term of the policy?
  • What do I need to pay to maintain electronic policies in my e IA? And what is the fee for converting my existing paper polices into electronic policies?
  • What does my family get on my death?
  • What is “Waiver of Premium”?
  • What is a child plan?
  • What is a Guaranteed Surrender Value?
  • What is a medical examination when buying insurance?
  • What is a Money Back plan?
  • What is a Whole Life insurance product?
  • What is an e Insurance Account (e IA)?
  • What is an Insurance Repository?
  • What is Deferment Period?
  • What is Endowment product?
  • What is Fund Value and how it is determined?
  • What is general insurance?
  • What is Grace Period?
  • What is Group Life Insurance?
  • What is insurance?
  • What is Life Insurance?
  • What is Pre existing, Waiting periods and Exclusions in a health Insurance policy ?
  • What is Redirection?
  • What is Switching?
  • What is Term Insurance?
  • What is the difference between “Nomination” & “Assignment”?
  • What is the difference between health insurance plan of General Insurance Companies and Life Insurance Companies?
  • What is the fee I need to pay for opening an e Insurance Account?
  • What is the guaranteed Savings/bonus applicable under a Life Insurance Policy?
  • What is the periodicity of premium payments?
  • What is the right age to buy a Health Insurance Policy ?
  • What is the tax benefit available under health insurance plan?
  • What is unit linked insurance plan?
  • What is vesting age?
  • What kinds of policies are there?
  • What should be the duration (term ) of my insurance policy?
  • What should I do if I lose/misplace my insurance policy?
  • What type of insurances should I have?
  • What’s the advantage of starting early in health insurance ?
  • What’s the difference between Health Insurance & Mediclaim ?
  • When should I insure?
  • Which Insurance Policies can be held in electronic form?
  • Which Life Insurance Plan I should opt?
  • Which Policy is better – from General Insurance co, Health Insurance Co. or Life Insurance cos ?
  • Which type of policy is best suited for me ?
  • Who is an Authorized Representative (AR)?
  • Who should buy general insurance?
  • Whom should I insure?
  • Why do different people have different premiums ?
  • Why do I need Insurance?
  • Why should I buy life insurance?
  • Why should one insure ?
  • Will my family receive the insurance amount immediately after my death?
  • Will my premium amount increase after I have bought a policy?

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This entry was posted on October 18, 2018 by in Uncategorized.

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Page 2 Stage, Twiddles, Devil 743, E-Prerna, Chinminpoo, Inspiration Joint- Launch Your Presence, Orange Cub – Prevention of Cruelty Against Animals & Helping The Strays, PJ & Associates- All About Financial Planning- Equity/ Insurance/ Mutual Funds/ Property Services/ Loans!!

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