Life Insurance Glossary
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Absolute assignment
Accelerated benefits
Accidental death and dismemberment rider
Accidental death benefit rider
Accidental means provision
Accidental result provision
Accumulated cost of insurance
Accumulated value
Accumulation at interest option
Actuarial department
Actuary
Additional term insurance option
Adjustable life insurance policy
Agency bank
Agency system
American Council of Life Insurance
Annual Statement
Annuity mortality table
Approval type temporary insurance agreement
Assessment method
Assets
Assignment
Attained age conversion
Automatic dividend option
Automatic nonforfeiture option
Automatic premium loan
Aviation exclusion
Back-loaded policy
Band grading
Basic death benefit
Basket clause
Beneficiary
Benefit of survivorship
Branch office distribution system
Bundled insurance product
Buyer's Guide
Cash payment option
Cash refund option
Cash surrender value
Cash surrender value option
Cash value
Certificate of indebtedness
Claim administration department
Clean-up fund
Combination company
Combination plan
Commissioners Method
Common disaster clause
Company retention method
Conditional premium receipt
Confirmation certificate
Contestable period
Contingent beneficiary
Contingent payee
Continuous-premium whole life insurance
Death benefit
Death claim
Decreasing term insurance
Dependent life insurance
Discontinuity Index
Disintermediation
Dividend
Eligibility requirements
Employee's cost basis
Endorsement method
Endowment insurance
Enhancement type policy
Entire contract provision
Equity-based insurance product
Equivalent level annual dividend
Exculpatory statute
Face amount
Facility-of-payment clause
Family benefit
Family income insurance
Family insurance policy
Fixed amount option
Fixed period option
Front-loaded policy
General account
General agency distribution system
Generally accepted accounting principles
Graded-premium whole life insurance
Group creditor life insurance
Group ordinary life insurance
Group paid-up insurance
Group permanent life insurance
Group universal life insurance
Guaranteed insurability rider
Home service agents
Home service distribution system
Incontestable clause
Indeterminate premium life insurance
Indexed life insurance
Industrial insurance
Installment certificate
Installment refund option
Insurability type temporary insurance agreement
Insurance agent
Insured
Insured funding
Interest option
Interest-adjusted cost
Interest-adjusted net cost method
Interest-adjusted payment
Internal replacement
Investment-sensitive insurance
Irrevocable beneficiary
Issuing bank
Joint and survivorship option
Joint credit life insurance
Joint whole life insurance policy
Juvenile insurance policy
Key-person insurance
Level premium system
Level premium whole life insurance
Level premiums
Level term insurance
Life income option
Life income option with period certain
Life income option with refund
Life insurance
Limited-payment whole life insurance
Living benefit rider
Loading
Misstatement of age provision
Model Life Insurance Solicitation Regulation
Modified-premium whole life insurance
Monthly debit ordinary insurance
Mortality charge
Mortality rate
Multiple-line agency system
Mutual benefit method
Net amount at risk
Net premium
Nonadmitted assets
Nonforfeiture options
Nonforfeiture values
Nonparticipating policy
Option A plan
Option B plan
Ordinary life insurance
Original age conversion
Paid-up additions
Participating policy
Per capita beneficiary designation
Per stirpes beneficiary designation
Policy loan
Policy proceeds
Policyowner
Preference beneficiary clause
Preferred risk class
Premium reduction option
Proceeds
Pure endowment
Rate making
Rate of return method
Rating classes
Recording method
Reduced paid-up insurance option
Reinstatement
Reinstatement provision
Renewal provision
Reserve
Retained asset account
Retired lives reserve
Revocable beneficiary
Right of survivorship
Risk class
Safety margin
Savings bank life insurance
Segmentation
Separate account
Settlement option payments
Settlement option table
Settlement options
Small group insurance plan
Sole proprietorship insurance
Spendthrift trust clause
Split-dollar insurance plan
Spouse and children's insurance rider
Standard Nonforfeiture Law
Statutory accounting practices
Stock repurchase insurance
Straight life income option
Structured settlement
Successor owner
Suicide clause
Supplemental group life insurance
Supplementary contract
Supplementary contract without life contingencies
Survivor income benefit insurance
Survivorship clause
Survivorship life insurance
Temporary insurance agreements
Term insurance
Testamentary disposition
Third-party endorsement
Total-needs programming
Traditional net cost method
Unbundled insurance product
Underwriting department
Unilateral contract
Universal life insurance
Valued contract
Variable life insurance
Variable universal life insurance
Void contract
War exclusion provision
Whole life insurance
Withdrawal provision
Life Insurance:
Term Life
Universal Life
Variable Life
Whole Life
Burial
