Understand the concept of inherent explosion in property insurance, where an explosion occurs due to a situation that exists organically at the insured's premises, like a fireworks factory.
Understand the concept of Initial Premium in general insurance terms - the premium paid at the beginning of the policy, which may be adjusted at the end of the contract term.
Learn about the Insolvency Clause in Reinsurance, a crucial stipulation ensuring that the reinsurer remains liable for their share of losses even if the insurer becomes financially insolvent.
Learn about inspection in general insurance, a critical process involving the verification of facts about policyholders, claimants, or new applicants by a commercial agency.
Learn about the installment refund option in annuities, an option that ensures continued payouts even after the annuitant's death, until the purchase price is fully refunded.
Understand the concept of installment settlement in liability insurance, where policy benefits are paid in installments rather than a lump sum.
Learn about insurance in force and its significance in health and life insurance policies, including the amount of policies to be paid out and yearly premiums.
Learn about the term 'Insured' in general insurance terms. Discover who the policyholder or policy owner is and understand their role in an insurance contract.
Learn about insured plans for pensions, where an insurance company guarantees your retirement benefits. Understand the workings and advantages of such plans.
Learn about the features and benefits of an Integrated Plan (Pensions), a Treasury-approved pension plan that increases benefits through a specific formula. Discover how it works and its impact on retirement planning.
Explore the essential details about intermediate care in health insurance, including its definition, benefits, and how it differs from skilled nursing care.
Explore what an intervening cause is in legal terms, and how it is used as a defense against negligence charges by interrupting the chain of events to establish proximate cause.
Learn about immature policies in liability insurance, specifically claims made on policies in effect for less than five years and the associated rating discounts.
Learn what Index Bureau Experience means in the context of general insurance and how it helps track losses from claims over a year.
Learn about the concept of an indexing year in health insurance, crucial for calculating social security benefits effectively.
Learn about interest rate risk, a critical factor in investments, particularly when investing in bonds. Understand how changing interest rates can impact returns and affect your investment decisions.
Learn about the responsibilities and functions of an Intermediary (Reinsurance), a specialized broker who negotiates reinsurance contracts on behalf of the insured.
Learn about the role of an insurance adjuster, a professional responsible for investigating claims, determining liability, and assessing damages. Understand their duties, including interviews, property inspections, and record reviews.
Learn about the illegal occupation provision in health insurance policies. Discover how this clause excludes coverage for losses due to criminal activities or working in illegal occupations.
Understand impaired risk in health and life insurance — a term describing individuals in less-desirable conditions, such as health insurance applicants with multiple heart attacks.
Understand what in-area services mean in health insurance, focusing on the health care services provided within a designated geographical area as per the contract terms.
Learn about the term 'Incompetent' in legal terminology, which refers to someone unable to manage their own affairs due to mental incapacity, age, or other reasons.
Learn about independent adjusters in general insurance, their roles, responsibilities, and how they operate as independent contractors for various insurers.
Discover the benefits and workings of an Individual Contract Pension Trust, where insurance and annuity contracts are held by a trust for employees. Ideal for understanding pension plans tailored to policyholders.
