Insurance related terms

Discover just how Affordable it can be to Protect your Pet! Synonyms for insurance. What is insurance glossary? Our insurance terms glossary is divided alphabetically by insurance terms in a quick reference guide to assist understanding the language commonly used by insurance companies.

Policy documents contain a number of insurance terms because they typically define the limitations of risk and liability on the insured and any exclusions of coverage.

ABI stands for the Association of British Insurers. The ABI provides advice to consumers, while working together with the Government and policymakers. Their aims are to promote clarity, high standards and best practice within the insurance industry. The ABI also makes up part of the panel that recommends insurance group ratings.

In technical terms, ‘Sum Assured’ is the term used for an amount that the insurer agrees to pay on death of the insured person or occurrence of any other insured event. You may come across the term ‘sum assured’ at the time of comparing policies online, when buying life insurance plan, and in the policy document. Browse the list of 7.

Seller does not arrange the insurance, this is the responsibility of the buyer. Insurance abbreviations with their meanings and definitions. The seller is obligated to get the subject matter insured delivered to the carrier at the named port of departure. There many types of insurance policies.

Life, health, homeowners,. A general insurance agent , also simply known as an insurance agent , sells home, condo and tenant insurance policies from a single insurance company that protect you from financial loss in the event of fire, theft, storms and other events. In Ontario, insurance agents must be licensed by FSCO.

Award Winning Provider. A form of health insurance that provides benefits for expenses incurred for medical care. This form of health insurance provides benefits for expenses of physicians, hospital, nursing, and related health services, and supplies.

These benefits may be related to actual expense, specified sums, or services rendered. Practice Answer a few questions on each word. Find descriptive alternatives for insurance. A claims or insurance adjuster is employed by or acts on behalf of an insurance company to examine,. According to Investopedia, an insurance claim is a formal request to an insurance company for coverage or.

Agent - A person or a group of people selling insurance on behalf of an insurance company.

Insurer- Is the company which accepts risks after receiving premiums and pays claims. Quizlet flashcards, activities and games help you improve your grades. The insurance company, insurance , A form of insurance whereby one insurance company (the reinsurer) in consideration of a premium paid to it, agrees to indemnify another insurance company (the ceding company) for part or all of its liabilities from insurance policies it has issued. Validation Period: The amount of time necessary for the premium on an insurance policy to cover the commissions, the cost of investigation, medical exams and other expenses associated with the. This is the rate at which the banks themselves borrow money.

It is essentially the cost of money at the time as set by the state. All interest rates offered by mortgage providers will reflect the base rate to varying degrees. Your credit rating is essentially a profile of your previous dealings with.