Life Insurance Vocabulary Words
Term used in universal life policies to describe the total of all premiums and earnings credited to the account before deductions for any expenses loans and surrenders.
Life insurance vocabulary words. Permanent life insurance policies offer a cash value component that makes them more expensive than term policies and is usually only a good option for people with particular circumstances. Use this informative health and life insurance glossary to understand the definitions of many commonly used insurance terms. Make sure that you have a reliable team at your service for your insurance needs. 1 n insurance paid to named beneficiaries when the insured person dies synonyms.
A life insurance policy that is active for the entirety of the policyholder s life. Business english for esl learners. The preceding was a quick selection of commonly used basic insurance industry terms. Assurance vie life insurance assurance vol et incendie fire and theft insurance assurance voyage travel insurance assuré client customer insured assureur insurer.
Posted on 10 12 2015 03 01 2020 by mat in french vocabulary. Glossary of terms accumulation value. As the wife is a homemaker husband pays the premium thus the husband is the policyholder and wife is the life assured. Words and phrases used in insurance with definitions free for students of business english who need to learn business vocabulary.
For instance a husband buys a life insurance plan for his wife. For additional information on insurance vocabulary be sure to browse our glossary page. Life assured may or may not be the policyholder. Call an infinity agent at 1 800 infinity or get an online quote today.
Learn insurance industry vocabulary that will help you better understand your insurance policies. Life insurance that covers a group of people who are usually employed by the same company or part of the same organization insurable interest a financial interest in the continued life of a person insurance on another person. Insurance in which the risk insured against is the death of a particular person known as the insured upon whose death within a stated term for term insurance or whenever death occurs for permanent insurance the insurance company agrees to pay a stated sum or income to the beneficiary.
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