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

Salary Saving Scheme This scheme provides for payment of insurance premiums by money reduction from the salary of the employees by any one employer.

Back to top

Scheduled PremiumsIt is refers to planned insurance premiums, which are planned at the time of issue.

Back to top

Secondary BeneficiaryA person(s) designated by the policyholder to get policy amount if the Primary Beneficiary is deceased at the time benefits to become as payable. It is other wise known as Secondary Beneficiary.

Back to top

Select MortalityDescriptive of the transience experience of recently underwritten insured's. This period of audibly diverse (favorable) mortality generally lasts 5 to 15 years.

Back to top

Settlement OptionsThe ways in that insurance policy holders or recipients might choose to have benefits paid other than a huge sum.

Back to top

Short TermPreliminary Term insurance, not to surpass 11 months that might be attached to a policy to change the anniversary time and date for the reason of more suitably spacing premium payments.

Back to top

Simplified UnderwritingAn underwriting process, which applies a less severe analysis of risk factors. Participants in group plans might succeed for this shortened form of underwriting.

Back to top

Single Premium Life InsuranceA life insurance plan, which needs only one insurance premium and is guaranteed to stay paid-up all through the insured's lifetime.

Back to top

Split Dollar PlanAn arrangement in which two parties, generally an employer and employee, together purchase the insurance policy, pay premiums and share in the policy's benefits.

Back to top

Spousal DiscountA discount for purchasing contact together as husband and wife are from the same insurance company.

Back to top

Standard or Standard PlusAn underwriting rate categorization for non-smokers who have negligible health impairments.

Back to top

Standard RiskAn average risk, not subject to rate loadings or limits because of poor health.

Back to top

Step-Rate PremiumA rating structure in that the premiums augment sporadically at pre-determined times like policy years or attained ages.

Back to top

Straight Life InsuranceWhole life insurance on that the insurance premiums are payable for life.

Back to top

Sub-Standard RiskAn individual, has health history or substantial limitations, does not calculate up to the qualification of a standard risk.

Back to top

Suicide ClauseA policy provision generally stating that if the insured dies by suicide within two years of the time issue, the sum payable will be restricted to the whole premiums paid, less any insurance policy debt.

Back to top

Sum AssuredSum assured is the sum that an insurer agrees to disburse on the occurrence of an event.

Back to top

SurplusThe amount by that the sum of an insurer's assets extends its liabilities, i.e., the net value of an insurance company.

Back to top

Surrender ChargeAn amount kept by the issuer of a life insurance policy when a policy is canceled, naturally evaluated only during the first five to ten years of a policy.

Back to top

Survival BenefitThe payment of amount insured to the incurred person that has become due by repayments under a money back policy.

Back to top