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CancellationIt is a cancellation of any insurance policy before its usual expiry date, either by the insured or by the company.

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CancelableIt is a deal of health insurance, which might be cancelled in the policy term by the insurer or insured as well.

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CapacityIt is an amount of capital accessible to an insurance company or to the whole industry for underwriting general insurance policy or policy for specific perils.

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Capital Stock and SurplusIt represents the surplus of a company's assets over its liabilities as stated in its financial statements.

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Captive AgentRepresentative of a single insurer or convoy of insurers, who is indebted to present business only to that particular company, or at the very minimum, given that company first snub rights on a sale.

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CarrierIt is a guaranteed insurance company.

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Cash Surrender ValueThe amount, which is accessible in cash for loans and which might be accessible for withdrawals. Accessing Cash Surrender Value might even decrease the death benefit and might increase the risk of lapse.

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Cash Value Life InsuranceIt is a type of insurance where premiums are charged higher in beginning than they will be for the same amount of term insurance. The part of the premium, which is not used for the cost of insurance is invested by the insurance company and builds up a cash value, which might be used in a variety of ways.

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Change of Beneficiary FormA form offered by the insurer that the policy owner should finish in order to change the beneficiary on a policy.

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Child RiderRider that is provided by the insurance company to the insured's child(ren).

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ClaimIt is a request for payment of a loss that might occur under the terms of an insurance contract.

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ClaimantA first or third party (person) who states the right of recovery.

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Claims Notification ClauseIt is a clause in an insurance policy that provides a quick notification of claims and usually designates an exact adjuster to get notice and deal with the claim.

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Collateral AssignmentIt is a temporary transfer of only some and not all, policy rights to a lender to offer security for a loan.

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CommissionIt is a part of an insurance premium that is paid by the insurer to an broker for his services done in obtaining and servicing the insurance.

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CommissionerHe is a state officer who administers the state's insurance policy laws and regulations.

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Conditional ReceiptA receipt given for premium payments associated an application for insurance.

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ConservationIt is an attempt by the insurer can prevent the lapse of a policy.

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ConsiderationIt is one of the elements available on a binding contract. Consideration is receipt by the insurance policy company of the payment of the premium and the statement made by the potential insurance policy holder in the application.

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Contest, policyA court action demanding the validity of a policy.

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Contingent OwnerA person who become an owner of a life insurance policy if in case the original owner dies.

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ContractIt is a binding contract between two or more parties for the doing or not doing of some things. A deal of insurance is personified in a written document known the policy.

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Contract LawThe portion of civil law, which understands written contracts between parties and resolves disputes among them.

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Conversion PrivilegeIt is a privilege offered in an insurance policy to change to a various plan of insurance without giving proof of insurability.

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Convertible Term InsuranceIt is a term insurance which could be exchanged, at the selection of insurance policy holder and without proof of insurability, for one more plan of insurance. It is also known as credit life insurance.

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Convertible Whole Life Policy It is a mixture of "whole life policy" and "endowment policy", it provides for some low insurance premiums with maximum risk coverage as the life assured is just starting his working career, and the opportunity of converting the policy to an "endowment" insurance policy after five years of beginning.

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Cost BasisAn amount credited to an asset for income tax reasons; used to decide gain or loss on a life insurance policy agreement to decide the value of a gift.

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Cost-of-Living RiderIt is benefit that could be added to a life insurance policy under the insurance policy owner could buy one-year term insurance policy equal to the percentage change in the consumer price index with no proof of insurability.

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Cost of pure riskAll costs associated to pure risk that include, from the perception of shareholders, retained risk, loss avoidance costs and other insurance costs.

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CoverageThe scope of protection offered under a deal of insurance; any of numerous risks covered by a policy.

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Cross liability clauseIt is obligates to an insurer to defend each insured separately.

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Cross Purchase AgreementIt specifies the terms for the existing partners or any shareholders to purchase a deceased's share of the business's ownership.

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Cumulative PremiumThe total amount paid over the period of a mentioned amount of years.

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Cut-through endorsementIt is an endorsement to an insurance agreement stating that reinsurance documents would be paid straight to the named payee in the event of an insurer's insolvency.

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