Find out the meaning of terms used in insurance and financial planning.
Money paid to the heirs if the insured person dies by accident.
Investment for a certain period of time at a guaranteed interest rate.
Other people covered in the insurance policy.
The insurance company makes a decision about the claim to be paid.
An individual employed by an insurer to evaluate losses and settle policyholder claims.
Increase or decrease for the amount to be paid for the claim.
Premium that occur when a policy has been processed, and the premium has been paid prior to the effective date. These are a liability to the company and not included in written premium or the unearned premium reserve.
Agent of the policy notes.
The period in which the regular payments are made to pay the debt/loan.
A contract in which the buyer deposits money with specific payments to be made at regular intervals for a fixed period or for life.
An annuity that received by the spouse from a closed policyholder if the person died before the annuity period is over.
An individual who estimates value.
An individual who transferred the asset.
The transfer of all or part of a policy owner’s legal title and rights to a policy to another person. It is possible to change this type of transfer at a later date.
An individual who become eligible to receive payment due to will, life insurance policy, retirement plan, annuity, trust, or other contract.
An individual who become eligible to receive payment from the life insurance policy if the first recipient dies.
Beneficiaries that cannot be changed without their permission.
Gain on sale of investment.
The amount of money the life insurance policy owner will receive as a refund if the policy owner cancels the coverage and returns the policy to the company.
An insured person asks the insurance company to pay him back for medical expenses or other expenses covered by the policy; or the recipient asks the insurance company to pay the death benefit in the life insurance policy.
Insurance in which the insured party pays part of the bill and the insurance company pays the rest.
Insurance to pay back the insured person's business loan for his death.
Ownership of shares in a company that allows one to vote at the company's annual general meeting.
The risk that invented individual companies will not do as well as expected.
Insurance required by law.
The person who will have a life insurance policy if the owner dies before the policy ends.
Right to change a policy (to a different kind of policy).
The amount of a certain fee to be paid by the participant, the amount stipulated in the policy with an agreement that only above that amount will be reimbursed.
Interest rate bonds.
A chance that the invested company will go bankrupt or have a credit rating lowered, making it more expensive for the company to borrow money.
Changes in currency values that affect a person's investment.
Deadline for filing a claim.
The money paid to the heirs when the insured person dies.
Temporary life insurance where the amount to be paid when the insured party dies down every year.
Can be deducted.
A plan that allows an insured person to pay premiums from time to time.
A company that makes trades on behalf of an investor, charging a lower commission, but does not offer all of the broker's usual services (eg, advice and criticism).
Loss of body parts.
Two policies that cover the same risk.
Additional (for policy).
Life insurance policy will be paid to the insured if he is alive when his membership ends.
Assets and liabilities (of the deceased).
Plan to transfer the insured's assets and liabilities when he dies.
Premiums to cover risks that are more expensive than the policies covered.
Something not covered / covered in a premium.
The person (mentioned in the will) to administer the property of a deceased person.
Substitute the person mentioned in the will to manage the property of the deceased.
Final policy warning.
The type of life insurance that will remain active even if the insured does not pay the premium.
Coverage amount, amount of insurance.
The length of time that the policy will remain in effect if the premium has been charged but has not been paid, or more specifically about how long the insured has granted.
Group insurance, usually in the form of one company.
The ability to increase a person's coverage regardless of his or her health condition.
Investment for a certain period of time at a guaranteed interest rate.
The clause in the policy that says after two years, the insurance company can not claim that the policy is invalid unless there is fraud at the time of sale.
The likelihood that the investment will not grow enough to cover the price increase over time (meaning today's money will not be worth as much in the future as it is worth now).
Something worth being insured.
You as a person who is covered and protected in premiums.
The risk that changes in interest rates will affect your investment.
Agent, negotiator, representative.
Ended and not resumed/ canceled.
Money paid in advance (of benefit amount) if the insured person is seriously ill.
The possibility that someone will live longer.
Part of the expense of the mutual fund, including the salary of the mutual fund manager charged by the fund company before it is paid back to investors.
Changes in market prices that affect investment.
Date issued to pay bond value.
Minimum premium for policy cancellation.
Insurance that at the time someone dies, pay the company that pays the mortgage.
The person mentioned in the policy, and is covered by the policy.
The value of one unit in a mutual fund.
Insurance covering different risks.
It does not provide important information.
Risks that are not guaranteed by the insurance company.
Disease because of work.
A clause that allows a person to choose how he wants his claim to be paid.
Life insurance that pays outgoing dividends (money) to the policyholder if the company has surplus profits associated with life insurance, often referred to as "par insurance".
People get paid.
People who pay.
The clause in the health insurance policy that says the percentage of claims that the insurance company will pay.
Provides lifetime coverage even if the insured pays the premium for the specified time. As long as the premiums are paid, life insurance remains in force, no matter what the age of the insured or how health conditions are.
A partial disability for life.
Disability for life.
The same day and month each year to mark the starting policy.
The circumstance in which the payment earns interest based on the choice of selected investment account.
The maximum amount of money that the insurer will pay claims under the policy.
Giving power from someone to a lawyer.
The physical conditions that existed before the start of the policy.
A person gets a lower premium if he is less risky to be guaranteed (healthy, non-smoker).
Shares of ownership in companies that do not vote but do pay dividends (money).
Monthly or annual payment for life insurance policy.
Get a discount for paying a premium before maturity.
Consider the loss of eyes or limbs or the ability to speak into total disability.
The amount that is "borrowed" by someone who issues the bond.
Amount to be paid, in a single payment, on the death of the insured or intentional withholding.
The time from the first day of illness or disability until the health insurance policy begins to pay.
List of corporate risks that are not covered by insurance.
Cancel policy and regain premium paid for unexcepted timeframe.
The clause that provides the cost to change or cancel the policy.
Adjusting benefits given by mistake or other insurance covers the same.
Protection for people who follow insurance.
Someone who acts for someone else.
The profit or loss you make as a percentage of the total amount invested.
Rewording of the policy.
The cause of the damage indirectly.
The premium to bring the policy back to its original value (after the claim).
The clause in the policy that automatically brings back to its original value after the claim.
Premium return process.
Cancel policy before it expires.
Companies that issue shares.
Life insurance that is not binding on any savings.
To cancel the policy before it expires, with the consent of both parties (the insured party, and the insurance company).
The fee payable by the policyholder if he decides to monetize his policy.
Subject to tax later (for example, after withdrawal).
Giving policyholders the ability to add insurance to a permanent or universal living policy to protect a person in temporary need.
Right to own.
The person making the testament.
An account where the asset is for the person who will receive the benefits.
The person managing the account.
The insured party.
Universal life insurance
Incorporating permanent life insurance plus the ability to make investments that grow without tax in policy.
Leave the rights.
The policyholder does not have to pay the premium.
The statement in the contract, which if not covered in the middle of the contract will usually be given to the other party for compensation.