Insurance Information

The Dictionary of Insurance Terms and Definitions

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A

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Accidental death and dismemberment insurance
Accidental death rider
Actuary
Adjustable life insurance
Age basis
Amendment
Annual renewable term life insurance (ART)
Annuity
Application
Asset
Assignment
Attained age
Attending physician's statement (APS)
Authorization

B

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Back-dating
Bound coverage

C

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Child rider
Cost basis
Cost of insurance (COI)
Crummey power note/Crummey letter

D

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Date of issue
Death benefits
Decreasing term life insurance
Disability insurance
Disability provisions
Dividend
Double indemnity

E

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Effective date
Endorsement
Endowment
Estate planning
Evidence clause
Evidence of insurability
Exclusions
Expiry

F

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Face amount
Fiduciary
Flat extra premium
Free look

G

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Grace period
Graded premium
Graded premium life insurance
Group life insurance
Guaranteed death benefit rider
Guaranteed issue life insurance

H

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Hazardous activities
Health classification/Health class
Human life value

I

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Impaired risk
In-force business
Incidents of ownership
Incontestability
Indemnity
Individual retirement account (IRA)
Inspection report
Insurance binder (see Bound coverage)
Insurable interest
Insurance
Insured
Insurer
Irrevocable beneficiary
Issue age

J

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Joint-life insurance/Survivor life insurance

K

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Key man life insurance/Key employee life insurance

L

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Lapse
Level premium life insurance
Level term life insurance
Liabilities
Life expectancy
Life settlement
Limitations
Loading
Loss
Loss reserve
Lump sum

M

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Master policy
Medical Information Bureau (MIB)
Misrepresentation
Modified premium life insurance
Mortality
Mortgage life insurance
Mutual insurer

N

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No-lapse guaranteed benefit rider
Nonparticipating policy
Notice of cancellation

O

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Offer and acceptance
Offer
Overinsured

P

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Paramedical exam
Partial disability
Partial loss
Participating policy
Per capita
Per stirpes
Permanent life insurance/Permanent policy
Persistency
Policy anniversary
Policy date
Policy
Policy fee
Policy not taken
Policyholder/Policy owner
Power of attorney
Preferred best risk
Preferred risk
Premium
Premium notice
Primary beneficiary
Proof of loss
Provisions

Q

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Qualified

R

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Rate class
Rated
Reinstatement
Renewable term life insurance
Replacement
Representation
Revocable beneficiary
Rider
Risk

S

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Section 1035 Exchange
Senior settlements
Simplified issue
Spendthrift clause
Split-dollar plan
Standard risk
Sub-accounts
Substandard risk
Suicide clause
Super-preferred risk
Surrender

T

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Term life insurance
Termination
Tertiary beneficiary
Trustee

U

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Underwriter
Underwriting
Unilateral contract
Uninsurable risk
Universal life insurance

V

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Variable life insurance
Variable universal life insurance
Viatical settlements
Voidable

W

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Waiver of premium
Whole life insurance
wholesaleinsurance.net

Y

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Yearly renewable term life insurance

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