Cash value which is transferred from one life insurance policy to...
Insurance Glossary
Below you'll find some key terms, which are organized by insurance type.
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Life insurance benefits made available to policyholders before...
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A clause used in your insurance contract that gives your insurer...
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Also called "Double Indemnity," accidental death benefit is a life...
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Routine, daily activities, such as feeding, dressing, bathing and...
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A method of loss reimbursement for damage caused by an item...
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Highly trained insurance professionals who evaluate claims risk...
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The extent to which the value of property, possessions, securities...
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A life insurance plan that allows you to vary your coverage based...
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A type of life insurance policy that...
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A person hired by an insurance company to...
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Any insurance company licensed and authorized to sell insurance in...
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An insurance company representative who helps individuals,...
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A type of insurance policy that covers claims from any peril...
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Evolved from the AMBAC Insurance Corporation in 1985, the American...
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Also known as the "net amount at risk" or NAR, this term refers to...
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The person who receives the benefits of an annuity or pension....
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The process by which you convert part or all of the money in a...
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To begin pulling income from an annuity.
When it's time to...
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An insurance-like, financial contract that guarantees a series of...
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A survey that helps determine a property's insurable value or the...
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An expert trained to accurately evaluate the worth of certain...
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Material or monetary resources owned by an individual or...
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Insurance pools available nationwide which provide auto insurance...
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A situation that presents a high likelihood of loss.
If you...
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Requests for monetary compensation filed by auto insurance...
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A type of protection that covers the physical damage you're...
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A term which refers to a list of assets,...
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Covers physical injury and death caused others by the driver...
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The one-time, fixed expense of setting up and conducting business...
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An agent who represents one insurance company exclusively, selling...
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Financial security designed to protect everyone on the road—...
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The coordination of health and medical...
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A tax-sheltered savings account that's part of a permanent life...
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Damage or loss resulting from an accident...
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A type of insurance coverage that...
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An amount specified by your insurance...
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Pays for physical damage to the insured person's car when it...
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Insurance designed to protect businesses...
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Insurance products designed specifically to protect businesses,...
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An insurance company which either...
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Pays for automobile damage resulting from anything but collision...
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A prearranged, specific amount of money a policyholder pays for...
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Usually related to life insurance, cost indices reveal the true...
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The geographical area in which you may...
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Health insurance coverage you had before enrolling in your present...
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The amount of money your beneficiaries...
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The part of a property or liability policy that lists personal...
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The amount of money an insured person must pay out of pocket...
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The amount of risk you assume when opting for certain policy...
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Insurers that sell products to the public using either their own...
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The process of coordinating and managing...
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Premium refunds given policyholders by...
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The portion of an insurance premium, paid in advance, that...
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Provides protection from shaking and cracking that can destroy...
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A period of time at the beginning of new insurance coverage during...
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One part of a workers compensation policy that provides employers...
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Anything that affects, limits, interrupts or obstructs an insurance...
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Provisions addressed in an insurance policy that eliminate or...
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The percentage of insurance premiums used...
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Insures movable property, covering losses wherever they occur....
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Protects against damage due to flooding in a disaster.
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Protects the assets of a person or...
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The period of time following an...
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Life insurance policies with fixed and invariable premiums, cash...
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Pays the full cost of replacing or repairing a damaged or...
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A tax-advantaged medical savings account which accumulates funds...
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Compensation that offsets a casualty or...
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An insurance salesperson who works...
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Additional income, or profit, that...
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A method of staggering the maturity dates and the mix of different...
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Auto insurance that pays for bodily injury (BI)??or property...
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Home insurance protection that guards homeowners and members of...
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Measures the extent to which an insurer can quickly liquidate...
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Also known as accelerated death benefits, living benefits are...
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The amount of money paid by an insurance company to investigate...
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The practice of reducing an insurer...
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The ratio between the premiums received by an insurance company and...
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The financial resources an insurance company holds in reserve to...
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A health care system which attempts to enhance the quality and...
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The percentage of premium dollars your insurer pays out in health...
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Sometimes called "MedPay," medical payments coverage...
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Companies owned by policyholders which return part of their...
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Income received from investment assets, such as stocks, bonds,...
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An index which calculates the difference between the costs paid by...
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The net charge to provide promised insurance benefits when they...
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The total dollar value of insurance premiums retained by an...
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Auto insurance provision, instituted state by state, that allows...
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The net cash a company generates minus its business and investment...
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Insurance contracts that pay the policyholder dividends over time...
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The percentage of individuals, employees or families insured under...
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A specific risk or cause of loss covered by an insurance policy....
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Refers to property and casualty...
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Covers medical expenses, lost wages and other damages that result...
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A type of health insurance policy that offers participants the...
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A managed-care insurance plan that provides medical services to...
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The amount charged by an insurance company, usually either...
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The portion of an insurance premium, paid in advance, that...
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The difference between what you pay for a life insurance policy...
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Often mandatory, a type of liability insurance that pays for harm...
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A specific event that would otherwise result in the termination of...
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Liquid property that can be quickly converted into cash. For...
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A set charge pledged by an insurance company for insuring someone...
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An unincorporated association—or group of individuals, firms...
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Insurance purchased by an insurer on...
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The transference of risk from one insurer to another in return for...
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Keeping an active insurance policy in place by meeting the terms...
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Insurance that covers the insured's dwelling or damaged personal...
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The funds or assets an insurance company...
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A form attached to an insurance policy that alters the policy's...
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The process businesses go through that...
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Insurance companies that come...
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A list of items "scheduled" or covered under a home insurance...
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A place you can sell life insurance...
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An investment account established by a life insurance company that...
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The financial stability of an insurance...
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A category of auto insurance made up of...
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The portion of its liquid assets that an insurance company must...
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An insurance company owned by its stockholders, who share in...
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A type of specialized self-insurance that...
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The practice by an insurance company of...
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The financial cushion an insurance...
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A method of comparing the costs of cash value life insurance that...
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Insurance protection that lasts a...
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An extra layer of coverage purchased as...
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Covers you when you're involved in an accident with another driver...
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A flexible, permanent type of policy in which your insurer...
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An amount of money an insurance company holds in reserve against a...
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A type of insurance policy that protects...
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A type of permanent life insurance that combines the premium and...
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An insurance company that buys a life insurance policy from a...
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A life insurance policy designed to...
