Learn about the policyowner in general insurance terms, who is the person that owns an insurance policy. Discover how a policyowner may differ from a policyholder.
Learn about buy-back deductible in general insurance, where a deductible can be eliminated by paying an extra premium. Understand its implications, benefits, and scenarios where it is applicable.
Explore the role of a Cleanup Fund in life insurance. Learn how it helps cover remaining costs after a policyholder's death and ensure financial stability for beneficiaries.
Learn about misrepresentation, a key legal term in insurance, that involves providing false information during policy acquisition or incorrect explanations of policy terms.
Learn about what a premium receipt is in general insurance, its purpose, and why it is important for policyholders. Get detailed insights and key information.
Discover the intricacies of unearned premium in general insurance, the fraction of the premium that remains unused within the prepaid period.
Learn about the coinsurance cap in health insurance and how it limits the amount policyholders need to pay. Discover its significance and impact on healthcare costs.
Learn about collateral assignment in life insurance and how it is used to secure a loan. Understand the implications for both the policyholder and the creditor.
Learn about the term 'Benefit' in the context of general insurance. Discover how benefit amounts are paid to beneficiaries or participants in retirement plans.
Explore the definition of a covered person in insurance. Learn about what it means to be a covered person under an insurance contract and its implications.
Discover the meaning of Cestui Que Vie, a crucial insurance term referring to the person whose life measures the duration of a trust, gift, estate, or insurance contract.
Learn about the definition and implications of being a Named Insured within insurance policies. Discover who is listed, the protections offered, and scenarios where policy coverage extends to others.
Learn about outstanding premiums in general insurance, referring to premiums that are currently due but have not yet been paid. Understand the importance and implications of outstanding premiums in policy management.
Learn about the retrospective premium in general insurance, focusing on the last premium paid under a retrospective rating plan. Understand its significance and application.
Learn about Subscriber Contracts in Health Insurance, which detail the benefits available to each registered individual. Ensure you know the key aspects of your health care plan.
Learn about 'Eligible Dependent' in health insurance, a person who relies on the policyholder for financial support and is eligible for benefits. Explore the criteria and implications.
Learn about what an Explanation of Benefits (EOB) is, how it itemizes health services, the incurred costs, the payments made by your insurer, and your responsibilities.
Learn about the policyholder in general insurance terms, including definitions and roles. A policyholder, also known as a policy owner or insured, is the person covered by an insurance policy.
Learn the meaning of 'Beneficiary' in general insurance terms: the person designated to receive the benefits of a policy. Understand its importance and role in insurance policies.
Discover what excess insurance means in general insurance terms. Learn how it acts as a secondary coverage that pays beyond the primary policy once a specified amount is exceeded.
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 paid-up insurance in life insurance policies, where all premiums are fully paid, guaranteeing coverage without further payments. Understand its significance and benefits.
Explore the concept of postmortem dividend in life insurance, a dividend paid out to beneficiaries after the insured person’s death. Learn its significance and implications in life insurance policies.
Learn about the future increase option in health insurance, an option to augment disability benefits without re-establishing insurability. Available at predetermined times listed in the contract.
Learn about the mortality charge in life insurance, its significance, and how it affects your policy costs. Explore pure insurance protection and more.
Learn about apportionment, a crucial method in general insurance for dividing a claim among multiple insurance companies, ensuring fair distribution and clarity in settlements.
Explore what Assessable Insurance is, how it works, and its implications in the realm of General Insurance. Learn about the key aspects of first and second premiums.
Learn about Life Paid Up at Age (Life Insurance), a policy offering lifetime coverage with premiums that stop at a predetermined age, securing lifelong protection without lifelong payments.
Understand what a premium loan is in the context of general insurance terms. Learn how insurers provide these loans and the security involved.
Discover the essential role of a primary beneficiary in life insurance. Learn how they are designated to receive benefits or a pay-out from an insurance policy after it becomes due.
Learn about the coinsurance requirement in general insurance terms, which defines the necessary amount of insurance coverage to avoid coinsurance penalties on a loss.
Learn about Family Income Policies in life insurance. Discover how these policies provide financial security with a regular income stream to beneficiaries until a specified date in the future.
Learn about group certificates provided to policyholders in group health and life insurance plans, detailing the benefits offered under the group policy.
Reimbursement in general insurance refers to the re-payment of an amount already paid by the insured. Learn how it works and what it means for your insurance claims.
