By knowing and determining various terms in insurance, then you will better understand your rights and obligations as insurance customers later. Through this insurance term page, you can find out various terms that are widely used in the field of insurance. Some terms in life insurance:
Insurer is a term that remembers the insurance company
Procurement policy is a person or entity that carries out insurance contracts with the insurer. And the policyholder is obligated to pay the insurance premium
The Insured is the person or party to whom the insured is held
The policy is a securities containing the contract of coverage between the insurer and the policy holder
The heir is the person appointed by the insured and entitled to receive life insurance benefits provided by the insurer if the insured world
Sum assured is the money already in the policy. When the insured dies, then the money is left to the heir
Premium is the amount of money given to the insurer by
Benefits Insurance is the amount of money that the agreement will be with the insurer on the insured if all conditions are fulfilled
Actuarial is a function on an Insurance company that applies the principles of mathematics to Insurance, including calculating / pricing the list of premium rates and financial health provisions of the company in terms of finance
Aktuaris is a professional person who has undergone training in various technical aspects of insurance, pensions and related areas others. Actuaries in charge of
Agents are people who have tied up with an insurance company to act on behalf of companies that market insurance products, negotiate and ridicule the terms of the policy and serve the policyholders
Term life insurance is life insurance with a term certain
Basic Life Insurance is the basic coverage of the world of death of an insured
Accident insurance is insurance that gives a note because the insured can no longer work due to an accident. This type includes medical expenses, up to death insurance
Health Insurance (Askes) is an Insurance that guarantees the cost of care and treatment issued by the insured
Hospital care insurance is a wide range of insurance programs that provide hospital fees, , surgery and other medical costs caused by bodily injury or illness
Basic life insurance is life insurance without any additional insurance (rider). An additional insurance is additional insurance coverage provided under this Policy whose type
Field underwriting is an initial selection process performed by other agents and salespeople
The grace period / period, a period of 30 (thirty) days from the date of payment of the Basic Premium where the Policy will remain in effect even if the Basic Premium has not been paid in full.
Ilustration Policy is a projected benefit of Insurance
Claims is the right of the policyholder to
Clause is a clause - the circumstances that eliminate various insurances of insurance coverage, limits, obligations of the insured, the location covered, and the conditions pending or the flow of insurance
Lapse is the cancellation or termination of the effective policy period because the premium is not always after passing the grace period
Benefits Insurance is the types and benefits of this insurance product in the form of policy
Insurance Period is the period of validity of the insurance price, from the date of its entry into force or the date of policy anniversary, up to the date of the next policy anniversary or the expiration date of the Policy, whichever is more experienced
Pay Period Premium is the period in which the insured is obliged to bolt the Premium that has been determined to the Insurer
Grace period is the period of survival of the Insured on a condition before the Insurer can pay Insurance Benefit ... The cash value is the value of the policy at one particular moment.
Payor is a premium payer
Benefits of Payor is the benefit of Premium Payers, memb prove the premium waiver of the children's insurance policy if the premium payer suffers from death or disability. In this situation, the insured is the children who own the policy or the guardian
Policy recovery is the process of reactivating a lapse policy (void for not paying premiums).
Medical Assessment is the result of a medical examination by an advisor / underwriter to determine the risk level of a prospective customer.
Critical Illness is a Critical illness guaranteed as stated in the Policy Book.
Policy changes are changes that occur on the policy. Eg: changes in the sum insured, the type of coverage, and others.
Cancel policy is to stop the insurance underwriting as a result of non-payment of premiums-premiums, or the Insurance Policy where the remaining cash value is not sufficient to pay the premium.
Reimbursement is a system of reimbursement claims in which participants have to pay in advance all the costs at the Hospital for then submitted reimbursement claims to the Insurer.
The due date is the date set for the premium payment.
Date policy entered into force is the effective date of the Policy set forth in the Policy Summary or endorsements if changes have been made.
The policy issuance date is the date on which the Insurance Company issues the Policy.
Termaslahat (Beneficiaries) is the person or agency that name is listed in the Letter of Submission of Insurance or the Policy or the Memorandum amendment designated to receive insurance benefits, if the insured dies, provided such persons have interest relation to the insured on this insurance (Insurable Interest) and as long as it does not conflict with applicable laws and regulations in the Republic of Indonesia.
Underwriter is a person who has the expertise to evaluate the risk of a prospective customer and is authorized to determine whether or not the insurance application is accepted.
Underwriting is the process of evaluating, selecting and approving insurance risk and determine the amount of risk, the requirements to be accepted by the insurance company.
Waiver of Premium is guaranteed exemption of premium payment if Policy Holder experiences permanent disability / total disability.