Get a loan from MoneySearch.com!Specialty InsuranceBusiness InsuranceFixed AnnuitiesHome InsuranceAuto and Vehicle InsuranceLife InsuranceHealth Insurance
Insurance Glossary

Pages: A - C | D - G | H - L | M - P | Q - S | T - Z

Insurance Glossary: Pages A - C

Accelerated Benefits Rider: A life insurance rider that allows for the early payment of some portion of the policy's face amount should the insured suffer from a terminal illness or injury.

Accidental Death Benefit Rider: A life insurance policy rider providing for payment of an additional cash benefit related to the face amount of the base policy when death occurs by accidental means.

Accidental Death Insurance: Insurance providing payment if the insured's death results from an accident.

Agent: An authorized representative of an insurance company who sells and services insurance contracts.

Annually Renewable Term: A form of renewable term insurance that provides coverage for one year and allows the policy owner to renew his or her coverage each year, without evidence of insurability. Also called yearly renewable term.

Assignment Assignment: The transfer of the ownership rights of a Life Insurance policy from one person to another.

Attained Age: Your current age. Your attained age is one of the factors life insurance companies use to determine your premiums. The older you are, the greater chance you'll die while you are covered - so the higher your premium.

Backdating: A procedure for making the effective date of a policy earlier than the application date. Backdating is often used to make the age of the consumer at issue lower than it actually was in order to get lower premium. State laws often limit to six months the time to which policies can be backdated.

Beneficiary: The person designated to receive the death benefit when the insured dies.

Binder: A temporary insurance policy that expires at the end of a specific time period or when the permanent policy is written. A binder is given to an applicant for insurance during the time the complete policy paperwork is being completed.

Cash Benefits: Money that is paid to the insured upon settlement of a covered claim. Often found with Hospital Income Programs, "cash benefits" are paid directly to the insured rather than the doctor or the hospital directly.

Cash Value: The equity amount or "savings" accumulation in a whole life policy. Claim Notification to an insurance company that payment of an amount is due under the terms of the policy.

Conditional Receipt: Given to policy owners when they pay a premium at time of application. Such receipts bind the insurance company if the risk is approved as applied for, subject to any other conditions stated on the receipt.

Contestable Clause: A provision in an insurance policy setting forth the conditions under which or the period of time during which the insurer may contest or void the policy. After that time has lapsed, normally two years, the policy cannot be contested. Example: Suicide.

Contingent Beneficiary: Person or persons named to receive proceeds in case the original beneficiary is not alive. Also referred to as secondary or tertiary beneficiary.

Coverage: Another word for insurance. Insurance companies use the term coverage to mean either the dollar amounts of insurance purchased ($200,000 of liability coverage), or the type of loss covered (coverage for theft).

Conversion Privilege: Allows the policy owner, before an original insurance policy expires, to elect to have a new policy issued that will continue the insurance coverage. Conversion may be effected at attained age (premiums based on the age attained at time of conversion) or at original age (premiums based on ageat time of original issue).

Convertible Term: A policy that may be changed to another form by contractual provision and without evidence of insurability. Most term policies are convertible into permanent insurance.

Cross-Purchase Plan: An agreement that provides that upon a business owner's death, surviving owners will purchase the deceased's interest, often with funds from life insurance.

Pages: A - C | D - G | H - L | M - P | Q - S | T - Z







"Well this was my first visit and it went very smooth and I have added this site to my list of favorites for I have gotten some really good info and deals. So know that your site provides an invaluable service. Thanks for your help with my search."
- Mo Brill

"I just wanted to let you know that I found your site to be very easy to follow, and quick. I hope to get an answer back from the insurance agent soon. Thank you."
- Verva Ahders

"This site had EXACTLY what I was looking for. Thank you! Thank you! Thank you!"
- Susan Garfield




About | Glossary | Links | Disclaimer | Privacy | Suggest | Affiliate | Advertise | Agent Log-In

Insurance Tracker is the 100% advertiser supported insurance search engine. We are not a carrier, agent or broker. When you choose to inquire with an advertiser on Insurance Tracker, your information remains between you and that advertiser(s). Advertisers are solely responsible for keeping their information current.

Insurance Quotes From Agents Near You: Alaska | Alabama | Arizona | Arkansas | California | Colorado | Connecticut | Delaware | Washington DC | Florida | Georgia | Hawaii | Idaho | Illinois | Indiana | Iowa | Kansas | Kentucky | Louisiana | Maine | Maryland | Massachusetts | Michigan | Minnesota | Mississippi | Missouri | Montana | Nebraska | Nevada | New Hampshire | New Jersey | New Mexico | New York | North Carolina | North Dakota | Ohio | Oklahoma | Oregon | Pennsylvania | Rhode Island | South Carolina | South Dakota | Tennessee | Texas | Utah | Vermont | Virginia | Washington | West Virginia | Wisconsin | Wyoming

Find The Perfect Insurance Policy: Individual and Family Health Plans | Corporate Group Health Plans | Long Term Care (LTC) | Disability Insurance | Senior Health Insurance | Dental Insurance | Vision Health Plans | Rx Drug Savings Plans | Term Life Insurance | Whole Life Insurance | Universal Life Insurance | Fixed Annuities | Auto Insurance | Senior Auto Insurance (Age 55+) | Motorcycle Insurance | ATV Insurance | Boat Insurance | Watercraft Insurance | RV Insurance | Homeowners Insurance | Condominium Insurance | Renters Insurance | Business Owners Insurance | Commercial Auto & Truck Insurance | Workers Compensation | Liability Insurance | Mortgage Protection Insurance

InsuranceTracker.com is a Venture Click company.  Powered by ZipSearch!
Copyright © 2003 InsuranceTracker® All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.


Better Business Bureau