Home Page |  About Us  |  FAQ's  |  Providers  | Applications  | California Birth Profiles  Contact Us 

A  B C  D E  F G  H I  J K  L M  N O  P Q  R S  T U  V W  X Y  Z

Hazard - The exposure of susceptibility to wound, loss or damage.

Back to top

Home Office - The head office of an insurance company, which typically houses the actuarial, claims, investment, law, marketing and other service areas.

Back to top

Hospice - Health care facility that offers medical care and support services such as counsel to mortally ill persons.

Back to top

Human Life Value - For purposes of life insurance is to near value of the family's share of the deceased supplier's prospect earnings.

Back to top

Immediate Annuity - An allowance provided for payment to start immediately.

Back to top

Incidents of Ownership - Various rights, which might be exercised under the policy agreement by the policy owner. Some of the incidents of ownership might even include rights: (1) to cash-in the insurance policy, (2) to get a loan on the cash value of the policy, and (3) to change the recipient designation.

Back to top

Incontestability Clause or Period - Life policies offer that, except for the default of insurance premiums and sure other situation, the policy needs to be irrefutable after the policy has been in force for two years during the life of the insured.

Back to top

Indemnification - Compensation to the wounded of a loss, in whole or in part, by payment, revamp, or replacement.

Back to top

Indemnity - Legal principle, which is stated an insured need not gather more than the real cash value of a loss but need to be reinstated to about the same monetary position as existed before the loss.

Back to top

Independent Adjustor - Claims adjustor who provides his or her services to insurance companies and is compensated by way of fee.

Back to top

Independent Agent - An independent business person who generally symbolizes two or more insurance companies for sales and service capacity and who is paid by way of commission.

Back to top

In-Force Policy - Existing insurance policies for that the insurance premiums are being paid or for which insurance premiums have been fully paid.

Back to top

Inspection Report - Documentation of a request or an abstract statement of the planned insured's occupation, residence, health history, lifestyle and other common financial status. This report is ready by the insurer or an exploring agency for consideration in the guaranteed process.

Back to top

Installment Income - The settlement option, or the payment plan, which offers that the amounts of a life insurance policy or annuity agreement would be paid in a fixed amount at normal intervals for as long as the amount last, or for a fixed number of months or years.

Back to top

Insurability - Acceptability by the insurer of a candidate for insurance based on factors like the person's age, health, occupation, etc.

Back to top

Insurable Interest - The fact that the person affecting the insurance should suffer a fiscal loss at the death of the planned insured. For the insurance policy to be issued, both the owner and receiver should have an insurable interest.

Back to top

Insurance - A system for decreasing risk by transferring the risks of few individual entities to an insurer. The insurer concurs, for a contemplation (premium), to suppose the particular losses suffered by the insured.

Back to top

Insurance Commissioner - The top insurance authoritarian official in a state

Back to top

Insurance Department - A governmental agency in each state charged with the management of insurance laws, with the licensing of agents and insurers and their rule and examination. In some authority the department is a division of one another state department or bureau.

Back to top

Insured - A person or association covered by any particular insurance policy, with the "named insured" and any other parties for whom defense is provided under the specific policy terms.

Back to top

Insurer - The party that offers insurance coverage, typically through an agreement of insurance.

Back to top

Interest-Adjusted Method - Techniques of deciding a policy's annual net cost by incorporate an interest issue into the calculation to reproduce the time-value of money.

Back to top

Interest-Adjusted Net Payment Index - An index of the average annual net payment, which integrates the time-value of money.

Back to top

Interest-Adjusted Surrender Cost Index - This index is the average annual cost of insurance policy upon capitulates, which integrates the time-value of money.

Back to top

Interest Income Option - One of the resolution options, or payment plans, under that the sum of a life insurance policy are seized by the company to earn interest, which is paid regularly to the beneficiary.

Back to top

Interest Rate - The rate of interest attributed on a policy's cash value.

Back to top

Irrevocable Beneficiary - A beneficiary, which cannot be distorted without their written consent.

Back to top

Irrevocable Trust - A trust that cannot be withdrawn or amended by the holder who establishes it. This type of trust is regularly recognized when life insurance is bought to guard an estate.

Back to top

Issue Date - It is a date from which suicide and incontestability periods is been calculated.

Back to top