Terms related to life insurance

Glossary of Insurance Terms, Donegal Insurance Group

The information presented on this Glossary is not an insurance policy, declarations page or endorsement. This information is provided for general informational purposes only and does not alter or replace any insurance policy issued by us. Additionally, this information is not intended to fully set out your or our rights and obligations under any insurance policy issued by us. If you are one of our policyholders, you acknowledge your understanding that you must refer to the language of your insurance policy for the applicable agreements, terms, exclusions and conditions of coverage. ACCIDENT AND HEALTH INSURANCE: Coverage for accidental injury, accidental death, and related health expenses....

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Insurance Terms, Shortland, Steadfast, Insurance, Business Insurance, Personal Insurance, Shortland

Insurance Terms Your insurance policies include many terms which are peculiar to insurance and whilst your Client Manager is always available to explain the meanings, those in common use are briefly explained below: ADJUSTMENT PREMIUM: The premium determined after expiration of the policy on the declaration of details such as wages, stock values etc, or the loss experience under the policy. The original premium charged on such policies may be referred to as the deposit premium, the base AGGREGATE LIMIT: Usually the total amount of money an insurance company will pay under a Liability policy for all claims which arise during the period of insurance. ANNUAL PREMIUM: The amount of premium...

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Managing Your Life Insurance Policy: Understanding Key Terms - NerdWallet

When you’re buying life insurance, understanding key terms is crucial to making the best choice. Here are some terms that will come up as you’re purchasing and, then later, managing your policy. Beneficiary Your beneficiary is the person who will receive your policy’s death benefit. While you probably designated a beneficiary, or beneficiaries, when you bought your policy, you may need to revisit the selection over the years. For example, if you divorce, or if one of your beneficiaries dies, you may need to designate a new one. You can also specify percentages of the payout for each primary beneficiary (for example, 70% for one and 30% for another) or choose contingent beneficiaries...

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Insurance Terms Glossary, Curneal and Hignite

ABSOLUTE ASSIGNMENT An irrevocable transfer of complete ownership of a life insurance policy or an annuity from one party to another. Contrast with collateral assignment. ACCELERATED DEATH BENEFITS A life insurance policy option that provides policy proceeds to insured individuals over their lifetimes, in the event of a terminal illness. This is in lieu of a traditional policy that pays beneficiaries after the insured’s death. Such benefits kick in if the insured becomes terminally ill, needs extreme medical intervention, or must reside in a nursing home. The payments made while the insured is living are deducted from any death benefits paid to beneficiaries. ACCIDENT AND HEALTH INSURANCE...

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Terms of Use, Bajaj Allianz Life Insurance

By accessing this website (the "Bajaj Allianz Website") and using its content, you acknowledge and you agree that you have read and understood the following terms of use and you agree to be bound by them. Do not use the Bajaj Allianz Website, if you do not agree with these terms of use. As used below, the terms "we", "us" and "our" refer to Bajaj Allianz and the Allianz subsidiaries ("Bajaj Allianz, Bajaj Auto and other Group Companies"). The content is available for informational purposes only. The posting of content and access to this website does not render, either explicitly or implicitly, any provision of services or products by us. Information concerning financial products or services...

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Life Insurance Terms, Miller & Miller Insurance

Life Insurance Terms A life insurance rider that allows for the early payment of some portion of the policy's face amount should the insured suffer from a terminal illness or injury. Insurance providing payment if the insured's death results from an accident or if the insured accidentally severs a limb above the wrist or ankle joints or totally and irreversibly loses his or her eyesight. A life insurance policy rider providing for payment of an additional benefit related to the face amount of the base policy when death occurs by accidental means. A form of renewable term insurance that provides coverage for one year and allows the policy owner to renew his or her coverage each year,...

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Glossary of Insurance Terms - A C Insurance

ACCIDENT: An event causing loss, which occurs without being expected or designed,usually specific in time and place. ACCELERATED DEATH BENEFITS: A provision that will pay all or part of the policy death benefits while the policyholder is still alive. Conditions include proof that the policyholder is terminally ill with a life expectancy of less than 12 months, has a specified life-threatening disease or is in a long-term care facility such as a nursing home. By accepting an accelerated benefit payment, a person could be ruled ineligible for Medicaid or other government benefits. The proceeds may also be taxable. ACCIDENTAL DEATH BENEFIT: Provision for payment of an additional amount–...

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73 Health Insurance Terms You Should Know

Having the right health insurance for you and your family is extremely important. In order to help you find the plan that fits your needs, you need to understand the different health insurance terms used by health insurance companies. Here are 73 health insurance terms you should be familiar with. Knowing these insurance terms will prepare you for evaluating options available in the new Health Insurance Marketplaces coming in October 2013. 73 Health Insurance Terms You Should Know Accident Insurance - A type of insurance enabling the policy holder to get a certain sum of money in case of body injury damage due to an accident. Accidental Death Benefit - A benefit on a life insurance policy...

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Glossary of Insurance Terms

Glossary of Insurance Terms This list is not meant to be all inclusive, but should help with your understanding some insurance terms used in our website. An amount equivalent to the fair market value of the stolen or damaged property immediately preceding the loss. For real property, this amount can be based on a determination of the fair market value of the property before and after the loss. For vehicles, this amount can be determined by local area private party sales and dealer quotations for comparable vehicles. An insurance company authorized to do business in California. A licensed person or organization authorized to sell insurance by or on behalf of an insurance company. Coverage...

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Health and Life Insurance Glossary of Terms - Vitality

A type of Income Drawdown that was available before 6 April 2015. It is no longer possible to designate a pension pot for Capped Income Drawdown, although existing Capped Income Drawdown pots can remain in place. The main difference to Flexi-Access Drawdown is that for Capped Income Drawdown there are minimum and maximum amounts that can be taken, and the Money Purchase Annual Allowance does not apply. The Policy is linked to an interest bearing cash account held with a bank of our choice. The cash account is intended to be used for short term holdings of cash and to facilitate payments of charges or withdrawals, it is not designed as a long term investment option. A separate document that...

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