A B C  C  09]  09]] E  F G H I J K L  M N O P Q  R S T U V W X Y Z  Absolute assignment:  When you transfer the insurance to someone else.
Accelerated Death Benefit: A benefit linked to most life insurance policies with no extra charge that will pay out a portion of the death benefit while you are still alive and diagnosed with a fatal disease, each benefit is different depending on the company.  Accidental Death Benefit (ADB): Accident benefit is a rider that can be purchased in addition to your insurance, which will pay out an extra amount of money if you pass away due to an accident.
Actual age: The age that some operators use to calculate your premiums. Actual age is your current age and is also called Age Last Birthday.
Actuary: A person employed by an insurance company to calculate your premium based on specific company data.
Age Last Birthday: A method of calculating your premium based on your current age
Age Nearest Birthday: A method of calculating your insurance premiums based on how close you are to the next birthday. If you have six months left until the next birthday, you will usually receive a price based on your new age.
Agent: A licensed person who sells and services insurance.
A.M. Best: A company that rates the measure of a company's overall financial results.
Change: A document used to make changes or corrections to an insurance.
Applicant: The person who fills in the insurance application. A parent can be an applicant for a child under 18 years of age.
Application: Document used by an applicant to request insurance from a company.
Approved: A status you once received underwriting has been completed and the insurance company agrees to cover you.  Approved other than applied: A status that you receive when the insurance has been completed but the insurance company wants to offer you other coverage than you applied for based on their findings.
Atttained Age: A method of calculating your insurance premiums based on your current age.
Atttaining Physician & # 39 ;s Statement (APS): Another name for your medical records.
Aviation Hazard: The risk of death or injury due to participation in aviation. .
Your birthday – 5 May 1980
Policy issue date – 3 November 2017
Your current age – 37
is from 3 May to 19 May 2019., we save your age at 36 for lower premiums.
Beneficiaries: The person or persons you plan to give your money to when you pass away.
[19659075:] Benefit Commonly known as the death benefit is the amount paid out to the beneficiary if you pass away.
Blood Chemistry Panel: Blood tests that an insurance company may require from applicants during the insurance process.
Broker:  A-services and licensed insurance agent who sells insurance services for more than an insurance company.
Funeral Insurance: A full life insurance policy designed to provide just enough insurance to cover funeral and funeral expenses. Usually marketed to people between 50 and 85 years.
Business Life Insurance: Normally this is called Key Persona Life Insurance if their key people are mainly used to cover their deaths.
Carrier: Another name for an insurance company.
Cash value: The amount of cash collected in permanent life insurance.
Change of beneficiary: The ability of the policyholder to change the beneficiary of an insurance.
Claim: A request for payment of the benefit to be paid under the terms of the insurance.
Clause: An article or added provision in a life insurance contract, such as a suicide clause.
Commission: A fee or percentage of the premium allowed to a seller or agent for services rendered. This fee is almost always paid by the insurance company and costs no extra for the customer.
Conditional premium receipt: A receipt given to an applicant when a payment is given at the time of an insurance application. Normally used for the date of application for your insurance to be the date of issue of the insurance after your approval.
Competition period: A period of time during which an insurance company can contest your death if you pass away. This normally lasts for only 24 months. After this time, your death is considered undeniable.
Contingent recipient: Another name for secondary beneficiary. You can have a primary and / or secondary beneficiary.
Conversion Benefit: A benefit that allows you to change one policy type to another. Like turning a futures policy into a life policy.
Conversion credit: A credit given for the conversion of lifetime insurance to full-life insurance. The date on which an insurance takes effect. This is sometimes called the date of insurance.
Endorsement: Used to clarify or make changes to special provisions in a health or life insurance policy.
Proof of insurability: Actual information used by insurance companies to determine an applicant's qualifications for insurance.
Graduation Company: A company that sends out an examiner to complete your exam. Examples of a degree company include ExamOne and Parameds.
Examiner: A healthcare professional appointed to provide paramedics or medical examinations for insurance applicants.
Exceptions: Special conditions or circumstances specified in an insurance for which the insurance does not provide benefit payments.
Expiry date: The date on which an insurance ceases to provide coverage for the insured.
Extra premium: The amount charged in addition to the regular premium to cover any additional risks or special risks such as aviation or hazardous activities. This is commonly referred to as Flat Extra.
Face amount: The amount of coverage provided by a life insurance policy. This is also called the coverage amount.
Face page: One of the first pages in a life insurance policy. This page lists the insurance specifications such as the name of the insured, the insurance owner, the beneficiary, the insurance number, the insurance amount and the premium amount, among others.
Final costs: Expenses. which arose at the time of a person's death including funeral expenses, costs of estate registration, current liabilities and taxes.
Fixed benefit: A benefit that remains the same and does not change within an insurance policy.
Flat Extra: An additional amount in dollars per insurance of $ 1,000 that is charged to cover any additional risks or special risks such as aviation or hazardous activities. This is usually called Extra Premium.
Flexible premium policy: A type of permanent life insurance where the insurance owner can vary the amount or time of premium payments.
Free Look Period: The period of time that an insurer gets to decide if they want to keep the life insurance they purchased. Almost as a money-back guarantee, it can extend from 10 days to 30 days. This period is usually 30 days. If the insured dies during the grace period, the unpaid premium is deducted from the insurance income.
Guaranteed number: An insurance provision that allows a certain amount of insurance or type of insurance to be issued without medical proof of insurability.
Guaranteed prices: A life insurance policy that guarantees the premium rates will not change during the entire insurance period.
Guaranteed insurance: allows the insured to buy additional fixed amounts of life insurance with fixed time intervals without proof of insurability.
Guaranteed renewable: An insurance provision that guarantees an insurance will continue to apply provided that the insurance premiums are paid on time.
HIV Consent Form: A form used to inform you that you will be tested for HIV when you take a life insurance test.
Home Office Urine Test (HOS): A urine test to check for nicotine, drugs, alcohol and medical problems.
Unquestionable clause: A life insurance provision which states that after the insurance has been in force for a certain period of time, the company cannot refuse a claim based on a material error in the application. The typical time period for the clause is two years.
Insurability: General acceptance of an insurance company by an applicant for insurance based on insurance review, which may include things like the applicant's current health status, medical history and driving record, among others.
Insurable interest: To be affected financially if someone should die.
Insurance Department: An area within each state government that administers and regulates the insurance industry within the state.
Insurance policy: The physical, written agreement between the insurance company and the insurance owner.
Insured: The person covered by an insurance policy.
Irreversible beneficiaries: One type of förmånstagarbeteckning can not be changed without the express written consent of the recipient.
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Issue age limits: Aged which a specific insurance company does not cover you. Some operators will not give life insurance to people under 18 or over 85.
Date of issue: The actual date when an insurance is issued. This can also be the date of entry into force of the insurance.
Youth insurance: Life insurance issued on a child's life. This type of life insurance is usually a full life insurance.
Key person insurance: An insurance for an important person's life within a company. The insurance income is used to compensate the company's loss due to the person's death.
Lapse: Termination of an insurance due to non-payment of premium. ceased.
Coverage Length: The length of time you will be covered by an insurance policy. The coverage period is usually applied to lifetime insurance products.
Level premium: A premium that remains the same throughout the period specified in the insurance policy.
Level Term Insurance: A type of lifetime insurance where the nominal value remains the same throughout the period specified in the insurance.
Life Insurance Trust: A type of life insurance where a trust company is mentioned as the beneficiary and distributes the income from the insurance according to the terms of the trust agreement.
Permanent incorrect presentation: your application so that you can be approved.
Medical examination: An examination performed by a doctor. The test may be required as part of medical insurance.
Medical Information Bureau (MIB): A service that compiles medical information and application history for persons who have previously applied for insurance.
Mortality: The frequency of deaths in proportion to a certain population.
Mortality: The number of deaths in a group of people, usually expressed as deaths per thousand.
Mortality table: A table that shows the probability of death at different ages.
Non-contributory: A group benefit plan usually through an employer, where the employer pays all premiums.
Non-tobacco / non-smoker: [1945classificationclass to an insurance where the insured has classified as non-users of tobacco and / or nicotine products.
occupational risks: Risks associated with an insured's occupation that increase the possibility of occupational injury, illness or death. Such hazards can have an impact on an applicant's insurability.
Orphan: An insurance owner who is not currently serviced by the writer / broker.
PAC: See Prev. -Authorized control.
Paid insurance: An insurance that does not require future premium payments to provide the insured person's death benefit.
Paramedical Exam / Paramed Exam: A brief examination that the insurer usually requires of applicants during the insurance process.
Most insurance companies allow you to choose from the insurance companies:  the following payment methods:  Annually
Payer: The person who pays the premium on an insurance. The written document issued by an insurance company to a policyholder. The insurance represents the insurance contract between the insurance company and the policyholder.
Insurance anniversary: Anniversary of the date of issue shown in the policy.
Policy date: enters into force on the date on which the insurance takes effect.
Insurance fee: A fee for insurance administration costs incurred by the insurance company. The insurance fee is usually included in the premium.
Insured loan: A loan from the insurance company to the insurance owner with security of the insurance's cash value.
Policy Owner: The person who owns an insurance and who has all contractual rights related to the insurance. The insurance owner can be the same person as the insured, the payer or the beneficiary.
Pool: A method for allocating insurance risk where the individual participants share the total risk with the other participants.
Pre-Authorized Check (PAC): A premium payment arrangement where the insurer approves the insurer to withdraw the premium payments from a bank account. This arrangement is usually required for the monthly payment mode.
Premium notice: A notice from an insurance company to an insurance owner stating that a premium is to be paid on a given date.
Premium price: The price per insurance unit.
Premium receipt: Receipt given by an insurance owner for the payment of a premium.
Primary beneficiary: the person appointed by the insurance owner the death of the insured.
Income: The amount to be paid under the terms of a life insurance policy on the death of the insured or on the due date of a private equity fund.
Proposed insured: The person who in a life insurance application is stated as the person whose life is to be covered by the insurance.
Provision: A statement or clause, contained in an insurance policy, to determine a specific term of the contract.
Quote: The initial estimated premium amount for an applicant based on factors which i.a. but not limited to type of insurance, insurance amount, length of insurance, age and sex. All quotes are preliminary estimates with final prices determined by the insurance company's insurance.
Rate per thousand: Price per unit (or $ 1,000) of death benefits. Thermal life insurance premiums are calculated by multiplying the percentage of death benefit and then adding the insurance premium.
Rated Policy: A policy issued to a substandard rating class based on issue guidelines.
Discount: Give someone money or gift in exchange for buying insurance. Discount is illegal in most states.
Reintroduction: A policy provision that allows a policy to be restored from a past due status. This is usually allowed for 31 days after the end of an insurance deferral period.
Renewable Term Insurance: Life insurance that can be renewed for an additional period without proof of insurability.
Renewal: The process of continuing an insurance by paying the premium.
Compensation: the act of terminating an insurance with an insurance company and replacing it with a new insurance.
Compensation form: A mandatory form that must be completed if the applicant replaces existing coverage.
Revocable beneficiary: A type of beneficiary designation that can be changed without the beneficiary's consent.
Rider: A special provision linked to a policy that either extends or limits the benefits of the policy. Exclusion riders usually exclude certain conditions from coverage.
Risk: The probability of injury, illness or death in connection with an insured.
Risk classification: The process by which underwriting determines the risk associated with an applicant and assigns an appropriate rating class to the policy.
Example policy: An example of the policy you are applying for. Usually requested so that a customer can see what the official documents will look like before they apply or are approved. These documents will have the word SAMPLE overwritten because they are not legally binding or proof of any type of coverage.
Rescue age: A procedure used to make an insurance effective date earlier than the application date.
Secondary Beneficiary: A person (s) appointed by the policyholder to receive insurance income if the primary beneficiary dies at the time when benefits are to be paid. This is often called a contingent beneficiary.
Second-To-Die life insurance: A type of life insurance that insures the life of two people, usually a husband and wife. The death benefit is paid at the second death.
Settlement: The process of receiving the income from a life insurance policy. Settlement options usually include lump sums or annuities.
Single premium life insurance: A life insurance that only requires a premium and which is guaranteed to remain paid for for the entire life of the insured.
Suicide clause: A clause stating that an insurance company will not pay for a death caused by suicide. This clause usually lasts for 2 years, but you should check the policy document for provision.
Surrender: Termination of a life insurance.
Term Conversion: An insurance provision that allows a life insurance to be converted into a life insurance.  Third party owner: A non-insurance owner is the insured.
Twisting: The Illegal Practice of Forcing an Insurance Owner to Replace an Insurance by Providing Incorrect, Incomplete, or Misleading Information.
Underwriter: The Individual or Team Trained in a Life Insurance Company to evaluate and determine your insurability.
Underwriting: The process that an insurance company goes through to determine if you are eligible for coverage.
Uninsured risk: An individual whose total risk is outside the insurance company's guidelines for insurance companies based on health, lifestyle or other factors.
Universal life insurance: A type of permanent life insurance that combines life insurance and an investment function in a contract. Universal Life Insurance generally offers flexible premium payments.
War Clause: A provision in a life insurance policy that states that if you die in a war, they do not have to pay out.
Annual Renewable Period  (YRT) : Most often referred to as the annual renewable period. Is an A-type of life insurance that is renewed annually and the prices also increase annually or annually.