Dictionary of Insurance Terms
Please select one of the terms below to receive an explanation.
A
- Absolute Liability
- Accidental Bodily Injury
- Accidental Death Benefit
- Accident
- Accident and Health Insurance
- Accident Insurance
- Accounting
- Accumulation period
- Accumulation units
- Acquisition Costs
- Actual Cash Value (ACV)
- Actuarial Cost Method
- Activities of Daily Living
- Actuarial Equivalent
- Actuarially Fair
- Actuary
- Acts of War
- Additional Insured
- Additional named insured
- Adhesion
- Adjustment Bureau
- Adjusted gross estate
- Adjustable Life Insurance
- Adjuster
- Adjusting
- Administrative Services Only (AS0) Plan
- Advance Funding
- Advertising Injury
- Advance Premium Mutual
- Adverse Selection
- Age Limits
- Agent
- Aggregate Deductible
- Aggregate Indemnity
- Aggregate Limit
- Agreed Amount Endorsement
- AIDS
- Allocated Benefits
- Allied Lines
- All-risks Policy
- Alien Insurer
- Alienated Premises Exclusion
- Alternate Delivery Systems
- Ambulatory Care
- Amendment
- Amortization
- Annuity Certain
- Annuity Consideration
- Annual Statement
- Annuitant
- Annuity
- Anti-selection
- Application
- Arbitration
- Arson
- Association Captive
- Assessment Association
- Assets
- Association Group
- Association Group Plan
- Assignment
- Assessment Mutual
- Assigned Risk
- Assumption of Risk Doctrine
- Assailing Thieves
- Assumptions
- Assurance
- Attractive Nuisance
- Audit
- Automobile Insurance Plan
- Automobile Liability Insurance
- Automobile Physical Damage Insurance
- Automatic Premium Loan
- Automatic Reinsurance
- Automobile Reinsurance Facility
- Automobile Shared Market
- Average Indexed Monthly Earnings (AIME)
- Aviation Insurance
- Avoidance
- Bailee
- Bailee Insurance
- Barratry of the Master
- Basic Form
- Basis
- Blue Cross
- Beneficiary
- Benefits
- Benefit Period
- Binder
- Binding Receipt
- Book of Business
- Builders Risk Insurance
- Blanket Contract
- Blanket Insurance
- Blanket Medical Expense
- Blackout Period
- Block Policy
- Boiler and Machinery Insurance
- Bond
- Boat Owners Package Policy
- Broad Form Property Coverage including Completed Operations
- Broadcasters Liability Insurance
- Broadened Named Insured
- Break in Service
- Branch Office System
- Broker
- Blue Shield
- Burglary
- Burglary and Theft Insurance
- Business Life Insurance
- Business Insurance
- Business Interruption Insurance
- Buy-Sell Agreement
- Cafeteria Plan
- Calendar-year Deductible
- Cancelable
- Cancellation
- Capacity
- Capital Gain
- Capitation
- Capital Retention Approach
- Captive Insurer
- Captive Insurance Company
- Career Average Formula
- Casualty Insurance
- Catastrophe
- Causes-of-loss Form
- Cede
- Certified Financial Planner (CFP)
- Certificate of Insurance
- Certified Insurance Counselor (CIC)
- Cession
- Chartered Financial Consultant (ChFC)
- Chartered Property and Casualty Underwriter (CPCU)
- Change of Occupation Clause
- Choice No-Fault
- Chartered Life Underwriter (CLU)
- Claim
- Claims Adjustor
- Claim-Made Policy
- Class Rating
- CLU
- Coinsurance
- Collision Insurance
- Cost-of-Living Rider
- Collateral Source Rule
- Combined Ratio
- Concealment
- Concurrent Causation
- Conditional Receipt
- Commercial General Liability Policy (CGL)
- Commercial Lines
- Commission
- Commissioner
- Commercial Multiple Peril Policy
- Company Adjustor
- Comprehensive Automobile Insurance
- Compulsory Auto Liability Insurance
- Comprehensive Personal Liability Insurance
- Computer Extra Expense Insurance
- Comprehensive General Liability Insurance
- Compulsory Insurance
- Compulsory Insurance Law
- Commercial Package Policy (CPP)
- Comprehensive Major Medical Insurance
- Comprehensive Medical Expense Insurance
- Comparative Negligence
- Completed Operations
- Community Property
- Common Stock
- Conditions
- Conditionally Renewable
- Confining Sickness
- Consequential Loss
- Conservation
- Consideration
- Consideration Clause
- Contingent Annuity Option
- Contingent Beneficiary
- Contents Broad Form
- Contribution by Equal Shares
- Contractors Liability Insurance
- Contractual Liability
- Contingent Owner
- Contract
- Contract Holder
- Contributory Negligence
- Contributory
- Convertible Bond
- Covered
- Conversion Privilege
- Convertible Term Insurance
- Coordination of Benefits (COB)
- Corridor Deductible
- Cost Basis
- Cost Containment
- Coverage for Damage to Your Auto
- Coverage
- Covered Expenses
- Covered Participant
- CPCU
- Credibility Factor
- Credit Health Insurance
- Credibility
- Credit Insurance
- Credit Life Insurance
- Cargo Insurance
- Current Assumption Whole Life Insurance
- Crop Hail Insurance
- Cross Liability Endorsement
- Cross Purchase Agreement
- Cash Surrender Value
- CSR
- Currently Insured
- Double Indemnity
- Debenture
- Debris Removal Clause
- Debit Insurance
- Declarations
- Declination
- Deductible
- Deferred Annuity
- Defined Benefit Plan
- Deferred Compensation
- Defined Contribution Plan
- Deferred Group Annuity
- Dental Insurance
- Deposit Administration Group Annuity
- Dependent Benefits
- Dependency Period
- Deposit Premium
- Depreciation
- Deposit Term Insurance
- Disability Benefit
- Disability Income Insurance
- Diagnosis-Related Groups (DRGs)
- Difference in Conditions Insurance (DIC)
- Disability
- Disability Insured
- Disability Benefit
- Disappearing Deductible
- Dismemberment
- Dismemberment Insurance
- Disposable Personal Income
- Dividend
- Dividend Addition
- Damage to Property of Others
- Dollar Threshold
- Domestic Insurer
- Donor
- Dramshop Law
- Dread Disease Insurance
- Direct Loss
- Directors' and Officers' Liability
- Direct Placement
- Direct Premiums Written
- Direct Response System
- Direct Writer
- Driver Education Credit
- Death Benefit
- Duplication of Benefits
- Dwelling Property 2
- Dwelling Property 3
- Dwelling Property 1
- Economic Loss
- Economic Policy
- Earnings Test (Retirement Test)
- Effective Date
- Elements of a Negligent Act
- Eligibility Date
- Eligible Employees
- Eligibility Period
- Eligibility Requirements
- Elimination Period
- Embezzlement
- Employee Benefit Plan Insurance
- Employee Benefit Programs
- Employee Dishonesty Coverage Form
- Employee Dishonesty Insurance
- Employment Practices Liability Insurance
- Employee Retirement Income Security Act (ERISA)
- Employment Stock Ownership Plan (ESOP)
- Endorsements
- Endowment
- Enrolled Actuary
- Enrollment Card
- Entire Contract Clause
- Entity Purchase Agreement
- Environmental Impairment Liability Insurance
- Environmental Damage
- Equities
- Equity in the Unearned Premium Reserve
- ERISA
- Early Retirement
- Earned Income
- Earned Premium
- Errors and Omissions Insurance
- Estate
- Estoppel
- Estate Planning
- Evidence of Insurability
- Exclusions
- Exclusive Agent
- Exclusion or Exception
- Exclusive Provider Organization (EPO)
- Exclusion ratio
- Exclusive Remedy Doctrine
- Excess and Surplus Insurance
- Experience
- Expense Loading
- Explosion
- Experience Modification Factor
- Exposure Unit
- Experience Rating
- Experience Refund
- Extended Coverage Insurance
- Extra Expense Insurance
- Extended Nonowned Coverage
- Extended Reporting Period Endorsement
- Extended Reporting Period
- Extended Term Insurance
- Extended Unemployment Insurance Benefits
- Face Amount
- Facility
- Facility of Payment
- Factory Mutual
- Facultative Reinsurance
- FAIR Plan
- Family Expense Policy
- Family Income Policy
- Family Policy
- Family Purpose Doctrine
- Farm Mutual
- Farmowners-Ranchowners Policy
- Fair Rental Value
- Federal Crime Insurance
- Federal Crop Insurance
- Federal Flood Insurance
- Federal Surety Bond
- Federal-Servant Doctrine
- Fidelity Bond
- Fiduciary Liability Insurance
- Fiduciary
- Final Average Formula
- Financial Responsibility Law
- Fire
- Fire Insurance
- Fire Legal Liability
- First Party Claim
- First Party Coverage
- Fixed Amount Option
- Fixed Annuity
- Fixed Period Option
- Flat Schedule
- Flood Insurance
- Flexible Premium Policy or Annuity
- Flexible Premium Variable Life Insurance
- Flex-Rating Law
- Floaters
- Forfeitures
- Forgery or Alteration Coverage Form
- Forgery or Alteration Insurance
- Foreign Insurer
- Fortuitous Loss
- Franchise Deductible
- Franchise Insurance
- Fraternal Insurance
- Fraternal Life Insurance
- Fraternal Society
- Fronting Company
- Gross Premium
- Fully Insured
- Funding Agency
- Funding Instrument
- Funded Retirement Plan
- Future Increase Option
- GAAP
- Generally Accepted Accounting Principles (GAAP)
- General Agency System
- General Average
- General Damages
- General Liability Insurance
- General Partner Liability Insurance
- Generation Skipping Tax
- Glass Insurance
- Good Student Discount
- Grace Period
- Graded Commission Scale
- Gross Estate
- Gross Negligence
- Gross Rate
- Group Annuity
- Group Annuity Contract
- Group Contract
- Group Creditor Life Insurance
- Group Insurance
- Group Life Insurance
- Group Ordinary Life Insurance
- Group Paid-Up Life Insurance
- Group Permanent Plan
- Group Term Life Insurance
- Group Universal Life Products (GULP)
- Guaranty Fund
- Guaranteed Insurability Option
- Guaranteed Investment Contract
- Guaranteed Purchase Option
- Guaranteed Renewable Contract
- Hazard
- Health Insurance
- Health Maintenance Organization (HMO)
- High-Risk Automobile Insurer
- Hold-Harmless Clause
- Homeowners Policy
- Home Service Life Insurance
- Hospital Indemnity
- Hospital Admissions Program
- Hospital Expense Insurance
- Hospice
- Hospital Medical Insurance
- Hard Market
- Hull Insurance
- Human Life Value
- Hurricane
- IBNR
- Immediate Annuity
- Immediate Participation Guarantee Plan (IPG)
- Imputed Negligence
- Incontestability
- Incontestable Clause
- Incurred Losses
- Incurred-but-not-Reported (IBNR) Reserves
- Independent Adjustor
- Individual Contract
- Individual Deductible
- Indemnification
- Indemnity
- Independent Agency System
- Independent Agent
- Individual Insurance
- Indirect Loss
- Industrial Life Insurance
- Individual Policy Pension Trust
- Indeterminate Premium Whole Life Insurance
- Individual Retirement Account (IRA)
- Inflation-Guard Endorsement
- Inheritance Tax
- Initial Past Service Liability
- Initial Reserve
- Inland Marine Insurance
- Insuring Agreement
- Insuring Clause
- Insurance Commissioner
- Insurance Company
- Insurance Examiner
- Insurance Exchange
- Insurance Guaranty Funds
- Insured Life
- Insolvent
- Inspection Report
- Insurable Risk
- Insurance Services Offices (ISO)
- Insurability
- Insurance
- Insured
- Insurer
- Integration
- Interest-Adjusted Method
- Interest
- Inter vivos Trust
- Intestate
- Interest Option
- Investment Income
- Investment Only Contract
- IPG Plan
- IRA
- Irrevocable Beneficiary
- Irrevocable Trust
- ISO
- Jettison
- Jeweler's Block Insurance
- Joint-and-Several Liability
- Joint-and-Survivor Annuity
- Joint Tenants
- Joint Underwriting Association
- Judicial Bond
- Judgment Rating
- Jumbo Risk
- Jumping Juvenile Insurance Policy
- Kenney Rule
- Keogh (HR 10) Account
- Key-Person Insurance
- Labor-Management Relations Act of 1947 (Taft-Hartley Act)
- Lapse
- Lapsed Policy
- Larceny
- Last Clear Chance Rule
- Law of Large Numbers
- Leasehold Interest Insurance
- Legal Reserve
- Legal Reserve Life Insurance Company
- Level Commission Scale
- Level Premium
- Level Premium Life Insurance
- Liability
- Liabilities
- Liability Insurance
- Liability Limits
- Liability Without Fault
- License and Permit Bond
- Life Annuity
- Life Annuity With 10 Years Certain
- Lifetime Disability Benefit
- Lifetime Disability Benefit
- Life Expectancy
- Life Income Option
- Life Insurance
- Life Insurance in Force
- Life Insurance Programming
- Limited Payment Life Insurance
- Limited Policy
- Liquidation
- Liquor Liability Law
- Liquor Liability Insurance
- Living Benefits Rider
- Living Trust
- Long-Term Care
- Long-Term Disability Income Insurance
- Loading
- Loss
- Loss Avoidance
- Loss control
- Loss Expense--Allocated
- Loss Expense--Unallocated
- Loss of Maintenance Fees Insurance
- Loss Payable Clause
- Loss Prevention
- Loss Ratio
- Loss Reserve
- Lump-Sum Distribution
- Malpractice Insurance
- Mail Order Insurer
- Major Medical Insurance
- Malingering
- Managed Care
- Manuscript Policy
- Manual Rate
- Major Medical Expense Insurance
- Marital Deduction
- Marine Insurance
- Market Price (or Market Value)
- Master Policy
- Material Damage
- Maximum Family Benefit
- McCarran-Ferguson Act
- Medical Examination
- Medical Expense Insurance
- Medical Expense Liability Insurance
- Medicaid
- Medicare
- Medigap
- Medical Malpractice
- Medical Payments Insurance
- Minimum Benefits
- Minimum Group
- Minimum Premium Plan (MPP)
- Miscellaneous Expenses
- Miscellaneous Hospital Expense Benefit
- Misrepresentation
- Mode of Premium Payment
- Nonoccupational Disability Policy
- Moral Hazard
- Morbidity
- Morbidity Tables
- Hospital Miscellaneous Services
- Mortality
- Mortality Table
- Multiple Employer Trust
- Multi-Employer Plan
- Mutual Insurance Company
- Multi-Peril Policy
- Named Perils
- National Association of Insurance Commissioners (NAIC)
- Negligence
- Net Premium
- Net Present Value
- Net Written Premiums
- Non-Admitted Insurance Company
- No-Fault Automobile Insurance
- Noncancellable
- Nonconfining Sickness
- Noncontributory
- Nonforfeiture Option
- Nondisabling Injury
- Nondisabling Injury Benefit
- Nonmedical Limit
- Nonparticipating Insurance
- Nonparticipating Policy
- Nonprofit Insurers
- Occupational Hazards
- Occurrence policy
- Occurrence
- Ocean Marine Insurance
- Operating Ratio
- Optionally Renewable Contract
- Ordinance or Law Insurance
- Ordinary Life Insurance
- Over-the Counter Market
- Other Car Insurance
- Overriding Commission (Overwrite)
- Overhead Expense Insurance
- Overhead Insurance
- Owner's or Contractor's Protective Liability Insurance
- Package Policy
- Paid-up Insurance
- Paramedical Examination
- Partial Disability
- Partial Disability Benefits
- Participating Insurance
- Pension Benefits
- Pension Benefit Guaranty Corporation (PBGC)
- Pension Plan
- Performance Bond
- Peril
- Personal Injury Liability Insurance
- Personal Injury Protection (PIP)
- Permanent Life Insurance
- Percentage Participation
- Personal Articles Floater
- Perils of the Sea
- Persistency
- Personal Lines
- Personal Representative
- Physical Damage
- Physician's Expense Insurance
- 401(k) Plan
- Plan Administrator
- Plate Glass Insurance
- Point-of-Service Plans
- Policyholder
- Policy Loan
- Policyholders' Surplus
- Policy Term
- Policy
- Policy Dividend
- Pollution Liability
- Pollution Legal Liability Insurance
- Policy Reserves
- Pool
- Portability
- Preadmission Certification
- Preexisting Condition
- Preferred Provider Organization (PPO)
- Professional Review Organization (PRO)
- Preferred Stock
- Prepaid Group Practice Plan
- Premium finance
- Premium
- Premium Loan
- Premium Tax
- Proof of Loss
- Primary Insurance
- Principal Sum
- Probate
- Probate Estate
- Probationary Period
- Product Liability
- Product Liability Insurance
- Property Damage Coverage
- Property Insurance
- Property Management Errors and Omissions Insurance
- Proration
- Prospective Payment
- Prototype Plan
- Provision
- Proximate Cause
- Punitive Damages
- Qualified Impairment Insurance
- Qualification Period
- Qualified Plan
- Qualified terminable Interest Property
- Rate
- Ratemaking
- Rated Policy
- Rating Territory
- Reasonable and Customary Charge
- Rebating
- Recurring Claim Provision
- Residual Disability Benefits
- Reduced Paid-Up Insurance
- Regulation
- Rehabilitation
- Reimbursement
- Reinstatement
- Reinsurance
- Reinsurance Facility
- Renewal
- Renewable Term Insurance
- Rent Insurance
- Renter's Policy
- Replacement
- Replacement Cost
- Replacement Cost Insurance
- Replacement Ratio
- Representation
- Rescission
- Reserve
- Reservation of Rights
- Residual Disability
- Residual Market
- Retention
- Retrocession
- Retrospective Date
- Retrospective Rating
- Revocable Trust
- Rider
- Right of Survivorship
- Risk
- Risk Classification
- Risk Control
- Risk Retention Group
- Robbery
- Rollover
- Sales Cycle
- Salvage
- Scheduled Insurance
- Self- Administered (Trusteed or Directly Invested) Plan
- Self-Administration
- Self-Insurance
- Selling Price Insurance
- Senior Citizen Policies
- Separate Account
- Service-Type Plans
- Settlement Options
- Short-Term Disability Income Insurance
- Sickness Insurance
- Skip Person
- Social Security Freeze
- Social Security Option
- Soft Market
- State-of-the-Art Defense
- Special Damages
- Special Risk Insurance
- Split Funding
- Spouse's Benefit
- Standard Insurance
- Standard Markets
- Standard Provisions
- Standard Risk
- Statutory Accounting
- Statutory Accounting Principles (SAP)
- State Disability Plan
- State Fund
- State Insurance Department
- Statutory Underwriting Profit or Loss
- Step-Rate Premium
- Step-Up In Basis
- Stock Company
- Stock Exchange
- Stockholder
- Stock Insurance Company
- Stock Life Insurance Company
- Stock Redemption Plan
- Strict Liability
- Straight Life Insurance
- Substandard Insurance
- Subrogation
- Substandard (Impaired) Risk
- Supplementary Contract
- Surety Bond
- Surgical Expense Insurance
- Surgical Schedule
- Surplus
- Surplus Lines
- Table of Multiples
- Tax Basis
- Taxable Estate
- Temporary Life Annuity
- Tenants In Common
- Ten Day Free Look
- Term Insurance
- Testamentary Trust
- Theft
- Third Party
- Third Party Claim
- Third-Party Over Suit
- Threshold
- Time Element Insurance
- Time Limit
- Time Limit on Certain Defenses
- Time Value of Money
- Tornado
- Tort
- Total Disability
- Transferability
- Transit Insurance
- Travel Accident Policy
- Treaty
- Trust
- Twisting
- Umbrella Liability Insurance
- Unallocated Benefit
- Underwriting Profit or Loss
- Underwriter
- Underwriting
- Unearned Premium
- Unified Credit
- Uniform Premium
- Uniform Provisions
- Uninsured/Underinsured Motorist Coverage
- Uninsurable Risk
- Unit Owner's Excess Insurance
- Universal Life Insurance
- Valuable Papers
- Valuable Papers Insurance
- Variable Annuity
- Verbal Threshold
- Variable Life Insurance
- Vested Commissions
- Vesting
- Viatical Settlement
- Voluntary Market
- Waiting Period
- Waiver
- Waiver of Premium
- Whole Life Insurance
- Will
- Workers' Compensation
- Workers' Compensation Insurance
- Written Premiums
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