Insurance jargon sayings
1. "Premium": The amount of money you pay for your insurance coverage.
2. "Deductible": The amount you must pay out of pocket before your insurance coverage kicks in.
3. "Policyholder": The person who owns the insurance policy.
4. "Coverage limit": The maximum amount your insurance policy will pay out for a claim.
5. "Claim": A request for payment under your insurance policy for a covered loss or damage.
6. "Underwriting": The process of evaluating and determining the risk of insuring a person or property.
7. "Rider": An additional provision added to an insurance policy to provide extra coverage.
8. "Exclusion": Specific situations or items that are not covered by your insurance policy.
9. "Beneficiary": The person or entity designated to receive the benefits of an insurance policy.
10. "Loss ratio": The ratio of claims paid out by an insurance company compared to the premiums collected.
Above is Insurance jargon sayings.
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