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Definitions (58)
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accidental death benefit
Provides a benefit in the case of accidental death in addition to base amount of coverage.
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agent
The insurance company (Canada Protection Plan) representative and adviser who sells insurance policies to consumers.
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anniversary year
Any 1-year period from the anniversary of when a policy was issued.
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annual premium
A yearly policy fee payable by a policyholder.
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annuity
A contract that provides income payments at regular intervals, usually for a specified period or for the lifetime of the annuitant.
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annuity period
The time between each payment under an annuity, usually 1 month or 1 year.
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applicant
The individual or party applying for an insurance policy.
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automatic waiver of premium
A benefit that automatically covers the cost of premium payments, usually in case of death or injury.
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beneficiary
The person designated to receive proceeds of an insurance policy.
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benefit
A payment or option available under the terms of an insurance policy.
Meaning awaits approval from a moderator |
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