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INSURANCE DICTIONARY

INSURANCE DICTIONARY

In insurance dictionary section of our website, we had tried our best to educate you on all the insurance terminologies. The main purpose of this page is to educate people on the various insurance terminologies used in the life insurance industry. Kindly click on the required terminology to get the meaning for the same. If you didn’t find out the insurance terminology here, feel free to comment. We will update you immediately.


INSURANCE DICTIONARY – ALPHABET WISE

 

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

 


INSURANCE DICTIONARY – GLOSSARY OF TERMINOLOGIES

A
Absolute Assignment
Accident
Accidental Benefit
Accidental Death Benefit
Accidental Death Benefit and Dismemberment
Accidental Death Benefit Linked Rider
Accumulation Period
Actuarial Cost Assumptions
Actuarial Cost Method
Adjustable Life Insurance
Age at Entry
Age at Maturity
Age Limits
Annual Premium Annuity
Annual Premium Payment Mode
Annualised Premium
Annuitant
Annuity (Retirement Option or Life Annuity)
Assignee
Assignment
Assignor
B
Balanced Fund and Balanced Pension Fund
Bancassurance
Beneficiary
Bond Fund and Bond Pension Fund
Broker
C
Certified Insurance Facilitator (CIF)
Child Plans
Claim
Claim Amount
Commission
Concealment
Conditional Assignment
Contract
Coverage
CPPI (Constant Proportion Portfolio Insurance)
Criti Care 13 Rider
Critical Illness
Critical Illness Insurance
Critical Illness Rider
D
Daily Protect Fund
Date of Commencement
Death Benefit
Death Claim
Declaration of Good Health (DGH)
Decreasing Sum Assured
Deferment Date
Deferment Period
Deferred Annuity
Discontinuance Charges (Surrender Charges)
Discontinuance of Premium
Discontinued Policy Fund
Doctrine of Utmost Good Faith
E
Electronic Clearing System
Electronic Fund Transfer
Endowment Plans
Equity Elite Fund
Equity Fund
Equity Optimiser Fund and Equity Optimiser Pension Fund
Exclusions
Ex-gratia Claim
Expense Ratio
F
Family History
Financial Underwriting
First Unpaid Premium (FUP)
Fixed Annuity
Fraud
Free Look Period
Fund Management Charges
Fund Value
G
Grace Period
Gross Premium
Group Gratuity Scheme
Group Life Insurance
Growth Fund and Growth Pension Fund
Guaranteed Addition/ Loyalty Addition
Guaranteed Interest Rate
Guaranteed Returns Plans
Guaranteed Surrender Value
Guaranteed Survival Benefits
H
Hazardous Occupation
Health Insurance Plans
I
Immediate Annuity
Income Sustainer Rider
Increasing Sum Assured
Increasing Term Insurance
Indemnity
Index Fund and Index Pension Fund
In-force Policy
Insurability
Insurable Interest
Insurable Risk
Insurance Advisor (Agent)
Insurance Policy Document (Policy Document)
Insurer
Interim Interest Rate
Investment Risk
IRDA (Insurance Regulatory and Development Authority)
J
Joint and Survivor Annuity (Joint Annuity Plans)
Joint Life Insurance Plans
Key Employee or Keyman
L
Lapse
Lapsed Policies
Life Annuity (Annuity)
Life Assured (Insured)
Life Expectancy
Life Insurance
Limited Payment Whole Life Plan
Limited Premium Payment Term
Lock-in Period (Surrender Period)
Loyalty Addition/ Guaranteed Addition
M
Material Fact
Maturity Benefits
Maturity Date
Medical Underwriting
Minor Lives
Misrepresentation
Mode based Mortality Rate
Money Back Plans
Money Market Fund and Money
Market Pension Fund
Moral Hazard
Morbidity Rate
Mortality Charges
N
NAV Guarantee Plans
Net Asset Value (NAV)
Nomination
Nominee
Non Disclosure
Non-Medical Cases
Non-Participating Policies
Non-Standard Life
O
Occupational Hazards
Ombudsman
P
P/E Managed Fund
Paid Up Policy
Paid Up Value
Partial Disability
Partial Withdrawal Charges
Partial Withdrawals
Participating Policies
Payment Instrument Collection Charge
Pension Plans or Annuity Plans
Permanent Disability
Persistency
Policy Account
Policy Administration Charges
Policy Anniversary Date
Policy Document (Insurance Policy Document)
Policy Premium Component
Policy Revival
Policy Term
Policyholder
Politically Exposed Person (PEP)
Premature Death
Premium
Premium Allocation Charges
Premium Frequency (Premium
Periodicity)
Premium Holiday
Premium Payment Term
Premium Payor Waiver Benefit Rider
Premium Periodicity (Premium Frequency)
Premium Waiver Benefits
Primary Beneficiary
Proposal Form
Proposer
Protection Plans (Term Plans / Term Insurance)
R
Rebates
Redirection (Premium Redirection)
Regular Premium
Reinstatement
Renewal Premium
Return Guarantee Fund
Revival Period
Riders
Risk Assessment
Risk Premium Component
S
Savings Plans
Service Tax Deductions
Settlement Option
Single Premium
Standard Life
Standard Risk
Standing Instructions
Subrogation
Sub-Standard Life
Suicide Exclusion
Sum Assured
Sum Assured Multiplier Factor
(SAMF)
Superannuation
Surcharge
Surrender
Surrender Charges (Discontinuance Charges)
Surrender Period (Lock-in Period)
Surrender Value
Survival Benefits
Switching
Switching charges (Fund Switching Charges)
T
Term
Term Insurance (Protection Plans /Term Plans)
Terminal Interest Rate
Third Party Administrator
Top-Up
Top 300 Fund and Top 300 Pension Fund
Total Permanent Disability
Traditional Life Insurance Plan
U
Underwriting
Unit
Unit Linked Life Insurance Plans
(ULIPS)
Unit Price (Unit Value)
V
Variable Insurance Plans
Vested Bonus
Vesting Age
Void Contract
W
Waiting Period
Waiver
Whole Life Insurance Policy
With Profit
Without Profit

 

  INSURANCE DICTIONARY

 

Updated: November 27, 2016 — 8:28 pm
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