Life insurance

Life insurance

Contributors in Life insurance

Life insurance

The amount of the premium that as been paid for in advance that has been "earned" by virtue of the fact that time has passed without claim. A three-year policy that has been paid in advance and is ...

Elimination period

Insurance; Life insurance

The time which must pass after filing a claim before policyholder can collect insurance benefits. Also known as "waiting period."

Death benefit

Insurance; Life insurance

The limit of insurance or the amount of benefit that will be paid in the event of the death of a covered person.

Deductible

Insurance; Life insurance

Amount of loss that the insured pays before the insurance kicks in.

Conditional reserves

Insurance; Life insurance

This item represents the aggregate of various reserves which, for technical reasons, are treated by companies as liabilities. Such reserves, which are similar to free resources or surplus, include ...

Coverage

Insurance; Life insurance

The scope of protection provided under an insurance policy. In property insurance, coverage lists perils insured against, properties covered, locations covered, individuals insured, and the limits of ...

Convertible

Insurance; Life insurance

Term life insurance coverage that can be converted into permanent insurance regardless of an insured's physical condition and without a medical examination. The individual cannot be denied coverage ...