Glossary beginning with B

Insurance Glossary

Bancassurancesearch for term
  • This refers to the distribution of life insurance products via a bank channel.
Benefit Illustrationsearch for term
  • This document illustrates the benefits of the plan, both guaranteed and non-guaranteed, and the costs and charges associated with the policy you are purchasing, including distribution costs, which take into account the commission the insurer will pay to your insurance adviser, and the charges for insurance coverage.