Find Insurance terms 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.
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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.
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First Unpaid Premium:
First unpaid premium is the first default in paying premium when the policy renewal falls due.
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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.
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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.
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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.
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