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Insurance Glossary

shawncamp
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Insurance Glossary

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  1. INSURANCE GLOSSARY Get familiar with some of the most common terms used by the insurance agencies. Accident Insurance Actuary A professional who analyzes the probability of risk which includes calculation of premiums, dividends, insurance industry standards etc. An insurance taken for an unforeseen bodily injury. Agent Balance Sheet An accounting statement that depicts the financial condition of a company at a particular date. A person who represents the insurance agency and sells their services as well as policies. Beneficiary Captive Agent A person who may become eligible to receive money due to life insurance policy, retirement plan, annuity, trust or other contract. A person who sells contracts on the behalf of a specific insurance agency. Claim Conditions Requirements specified in the insurance contract and must be fulfilled to be able to apply for an insurance policy. A request made by the insurer to get the amount covered under the insurance policy agreement. Deductible Direct Loss Damage to the property that has been caused by the peril mentioned in the coverage. Part of the insurance claim that has to be paid by the insurer itself. Presented By www.shawncampinsurance.com Shawn Camp Insurance Agency, Inc 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542 Phone: (254) 526 - 0535

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