Find term beginning with the letter F...

Family History

Family history is the information about the medical conditions or diseases that run in the family or direct blood relatives.

Financial Underwriting

Financial underwriting is the process of evaluating whether the sum assured proposed by the insured is in line with the family requirements or not.

First Unpaid Premium

First unpaid premium is the first default in paying premium when the policy renewal falls due.

Fiscal Year

A fiscal year is a one-year period that insurance companies apply for financial reporting and budgeting. In common, a fiscal year is used for accounting purposes to work out the financial statement.

Fixed Annuity

A fixed annuity is defined as the type of insurance contract that pays the buyer guaranteed returns on their contribution to the annuity account.

Free Look Period

The period in which the life insured can choose to terminate the insurance contract is called a free-look period. No surrender charges are applicable, if you cancel the policy during the free look period.

Fund Value

Fund Value is the total value of the units in segregated funds. The total monetary worth of the units owned by the policyholders, like under the ULIP plan, is called a fund value.

Fund Management Charges

The charges that the insurance company levy on account of fund management under the Unit Linked Insurance Policy is called Fund Management Charges.