Find term beginning with the letter I...

In-Force Policy

An "in-force policy" is a term used in the insurance industry to describe a policy under which the policyholder continues to pay the premiums and hence the policy remains active or "in force".

Insurability

Characteristics of the risk (object or individual) that favours its acceptance in insurance is called insurability.

Insurable Interest

In insurance, the term 'insurable interest' refers to the financial or economic stake that a person or entity has in the insured object or person. Essentially, it means that the policyholder would suffer a financial loss or certain other kinds of loss if a covered event occurs.

Insurance

Insurance is a legal contract between the two parties, insurance company (first party) and insured (second party).

Insurance Advisor

An insurance advisor, also known as an insurance agent or insurance consultant, is a professional who provides advice to individuals and businesses about their insurance needs and options.

Insurance Agent

A professional who sells an insurance company’s products to consumers to earn a commission is called an insurance agent.

Insurance Policy Document

Insurance policy document is proof of insurance. It is a formal legal document that is used as a legal binding for the insurance contract.

Insured

Insured refers to a generic term that indicates any entity or a person who will receive the benefit under the insurance policy after the occurrence of loss.

Insurer

Insurer also called ‘insurance company’ is the entity that accepts the risk and promises to pay for the losses that arise within the policy term

IRDA (Insurance Regulatory and Development Authority)

The Insurance Regulatory and Development Authority of India (IRDA) is the regulatory body governing the insurance sector in India.

Immediate Annuity

Immediate Annuity is an insurance policy that pays guaranteed3 income immediately in exchange for a lump sum premium.

Insurance Premium Refund

An insurance refund refers to when the insurance company returns a part of the premium paid by the policyholder, usually due to the cancellation of the policy before its expiration date, overpayment of premiums, or adjustments made to the policy terms

Insurance Carrier

In insurance carrier, also referred to as an insurance provider or an insurance company, is a business entity that underwrites (provides and financially backs) insurance policies.

Insurance provider

An insurance provider is a company or organization that offers insurance policies to individuals, businesses, or other entities.

Insurance Renewal

In simple terms, insurance renewal is the process of extending your existing insurance policy beyond its expiration date, allowing you to maintain uninterrupted protection against potential risks and financial losses.

Insurance Portfolio

In the insurance industry, the term "portfolio" refers to a collection of insurance policies held by an individual or an organisation.