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The chance of loss from an event that cannot be entirely controlled.
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Terms in this set 12 insurance. Here is an insurance glossary or list of travel insurance terms that you need to know when searching for a policy. Simply having the basic understanding of insurance definitions can make the difference between having a plan that will cover you for the majority of your medical expenses and one that leaves you paying thousands of dollars. Learn vocabulary terms and more with flashcards games and other study tools. Start studying personal finance. As a useful guide to insurance vocabulary it will help you understand your coverage or benefits plan page. Our insurance terms glossary is divided alphabetically by insurance terms in a quick reference guide to assist understanding the language commonly used by insurance companies. Policy documents contain a number of insurance terms because they typically define the limitations of risk and liability on the insured and any exclusions of coverage. The policy tenure can be any period ranging from 1 year to 100 years or whole life depending on the types of life insurance plan and its terms and conditions. Important insurance terms finding an affordable student health insurance plan can be difficult especially if there are insurance terms you don t understand. Many a times it is also referred to as policy term or policy duration.
