Insurance Terms

Terms
Description
Contract Agreement between company and policy Holder.(One Giving and one taking)
Nominee A Person who receives the money on death.
Rider It can be taken along with normal policy for extra benefits
Sum Assured The limit of the policy amount or Risk Amount, Insurance
Claim Payment of sum assured on Death or maturity.
Risk & Peril Economic loss is risk and reason for risk is peril
Coroner (Investigator) A person who investigates in case of death cases
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