| actuary |
a person who calculates insurance rates, risks, and dividends on the basis of statistical probabilities. |
| adjust |
in insurance, to settle (a claim). [1/5 definitions] |
| annuity |
a regular annual income paid at fixed intervals and produced by money invested or by an insurance contract. [1/2 definitions] |
| arson |
the illegal act of burning buildings, another's or one's own, for malicious purposes or to claim insurance money. |
| beneficiary |
one who receives or is designated to receive benefits, as of a will or insurance policy. [1/2 definitions] |
| binder |
a temporary, legally valid agreement to purchase insurance, property, or the like, usu. involving partial payment. [1/4 definitions] |
| claim |
title or right to something, such as payment required by the terms of an insurance policy or the like. [1/8 definitions] |
| coinsurance |
insurance that is held jointly with another or others. [2 definitions] |
| coverage |
the amount or type of protection available against loss or liability as provided by insurance or reserve funds, or the protection itself. [1/3 definitions] |
| deductible |
to be deducted from any amount payable by insurance. [3/5 definitions] |
| dividend |
a pro-rata share of a company's distributed earnings paid to stockholders or insurance policyholders. [1/4 definitions] |
| double indemnity |
a provision in a life or accident insurance policy that twice the face value of the contract will be paid in the event of accidental death. |
| endorsement |
an alteration to the original terms of an insurance policy or other contract. [1/3 definitions] |
| endowment policy |
a type of insurance policy in which the insured receives a certain amount of money upon the policy's expiration, or the beneficiaries receive the money if the insured dies before the specified time. |
| FDIC |
abbreviation of "Federal Deposit Insurance Corporation," a U.S. governmental agency that insures deposits in member commercial banks up to a certain amount to protect the public against a bank's failure, and can act to prevent a bank's failure. |
| FICA |
acronym of "Federal Insurance Contributions Act," a federal tax law requiring employers to withhold a certain amount from employees' paychecks or wages for deposit in governmental accounts that fund Social Security. |
| fire insurance |
insurance against loss or damage of property caused by a fire. |
| floater |
an insurance policy for property in transit or frequently moved. [1/4 definitions] |
| fringe benefit |
a benefit, such as health insurance or a pension, given to an employee in addition to wages or salary. |
| hospitalization insurance |
insurance held by an individual or family which pays for expenses incurred due to hospital stays and treatment. |
| indemnity |
insurance against damage, loss, or liability. [1/3 definitions] |