An annuity certain is a type of annuity where payments continue for a specified period regardless of the life or death of the policyholder.
A certificate giving abbreviated details of the cover provided by an insurance policy. In motor insurance or employers' liability policies, the required information must be shown on the certificate of insurance, and policy cover does not come into force until the certificate has been delivered to the policyholder.
A Change of Beneficiary Provision allows the policyholder to alter the beneficiary designated to receive the benefits from a financial product such as life insurance or retirement accounts.
Definition, explanation, and discussion around the term 'Death Benefit,' including examples, FAQs, related terms, online resources, and suggested books for further readings.
Protection under life and health insurance policies for dependents of a named insured, including a spouse and unmarried children under a specified age.
Duration of benefits refers to the period over which disability income insurance provides financial support to an eligible policyholder following an illness or injury causing disability.
A Family Income Policy is an insurance policy that provides extra income during the period when children are growing up. This life insurance contract combines ordinary life and decreasing term insurance.
An individual or entity that owns an insurance policy and has the right to exercise the policy's privileges.
An individual who has insufficient insurance coverage to fully compensate for losses in the event of life or property damage.
Whole life insurance is a form of life insurance policy that offers both protection in the event of the insured’s death and builds cash surrender value at a guaranteed rate, which can be borrowed against. The policy remains in force for the lifetime of the insured, given that it is neither canceled nor lapses. The policyholder pays a fixed annual premium that does not increase with age.
