Glossary beginning with P

Insurance Glossary

p
Participating Policysearch for term
  • An insurance policy that “shares” in the profits of the insurance fund.
Policysearch for term
  • The written legal contract and certificate affecting insurance, and including all clauses, riders, endorsements, and papers attached to it.
Policy Loansearch for term
  • A policyholder in temporary need of cash may apply for a policy loan against the security of the policy. Interest will be charged from the date of the policy loan.
Premiumsearch for term
  • The price of insurance protection for a specified risk for a specified period of time
Product Summarysearch for term
  • This describes the features, fees and charges of the policy plan you are purchasing.