This is the second part of Insurance Terms named Terminology in Insurance sharing more glossary words of Insurance which are technical words of insurance but to be known to us. Money Back Policy In layman’s language, a money-back policy is where the insurer gets its money back but as per the Life Insurance Corporation – the policy in which the policyholder gets periodic survivance payments during the term of the Policy and lumsum amount on surviving its terms. In this, the beneficiary gets the full sum assured on surviving. Moral…
Read MoreDay: February 20, 2020
Insurance Terms
Right now, insurance terms are more popular in India, people is searching more about which Insurance is best, Life, Health and pension plans. So here are some more words which are common and used in Insurance sector. Accident Benefit In this user may get additional benefit which is equal to sum assured in installment or permanent total disability. Age Limits This is the minimum and maximum age limit of the user that below and above which the request form is not accepted. Agent He/she is the insurance company representative licenced…
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