insurance policy
Risk transfer agreement
An insurance policy is a contract between an insurer and a policyholder, specifying what risks are covered, what compensation will be paid, and under what conditions.
The document itself is also called a policy: Read your insurance policy carefully before signing.
Figuratively, any precautionary measure can be called an insurance policy: Keeping emergency supplies is an insurance policy against disaster.
One who assumes financial risk
- beneficiaryDesignated asset receiver
- premiumsPayments for insurance coverage
- deductibleOut-of-pocket threshold amount
- exclusionsThings deliberately left out
clause · endorsement · terms · renewal · riders · coverage limits · liability · indemnity
Added cost for better
- deductibleOut-of-pocket threshold amount
- co-payInsured's fixed contribution
- claimsStatements of truth
- benefitsGains or helpful effects
limits · exclusions · health · auto · homeowners · life · disability · property
Convertible monetary worth
- annuityPeriodic fixed payment
- whole lifeFull span of existence
- dividendsProfits paid to shareholders
- returnsProfits from investments
death benefit · accumulation · tax-deferred · borrowing · paid-up · endowment · maturity
Guarding against harm
- peace of mindState without anxiety
- safety netProtection against failure
- safeguardPrecaution against harm
- financial securityReliable access to funds
risk management · contingency · backup plan · estate planning · legacy · family protection · income replacement · asset protection
underwriter
One who assumes financial risk
- beneficiaryDesignated asset receiver
- premiumsPayments for insurance coverage
- deductibleOut-of-pocket threshold amount
exclusions · clause · endorsement · terms · renewal · riders · coverage limits · liability · indemnity · underwriting
premium
Added cost for better
- deductibleOut-of-pocket threshold amount
- co-payInsured's fixed contribution
- claimsStatements of truth
benefits · limits · exclusions · health · auto · homeowners · life · disability · property · casualty
cash value
Convertible monetary worth
- annuityPeriodic fixed payment
- whole lifeFull span of existence
- dividendsProfits paid to shareholders
returns · death benefit · accumulation · tax-deferred · borrowing · paid-up · endowment · maturity
protection
Guarding against harm
- peace of mindState without anxiety
- safety netProtection against failure
- safeguardPrecaution against harm
financial security · risk management · contingency · backup plan · estate planning · legacy · family protection · income replacement · asset protection · liability shield
- personal financesavings, income, credit, investments, bills
- accident claimsaccident claim, car accident claim, damage claim, injury claim, liability claim
- financial contractsfutures contract, forward contract, derivative, annuity, loan agreement
- health insurancepremium, deductible, copay, coverage, premiums
- liability insuranceliability coverage, general liability, personal liability, professional liability, public liability
- ship recordsship's log, ship logs, captain's log, logbook, log book