Life Insurance Glossary

Please note this glossary is intended for guidance only and you should read the policy wording and definitions of your own policy or consult your financial advisor for further clarification.

Accidental Death Cover

Is the optional benefit payable on the death of the insured as a result of an accident. The amount of the benefit is that shown in the Policy Schedule together with any increases as a result of automatic indexation of benefits.

annual premium

This is the annual premium specified in the Policy Schedule and includes the premiums for the benefits attached to the policy and the policy fee.

automatic indexation of benefits

Unless otherwise specified, on each policy anniversary date benefits are increased in line with the movement in the Consumer Price Index.

benefit period

The maximum amount of time that benefits will be paid for each claim.

date insured from

The date as shown on the Policy Schedule, from which the policy becomes effective.

disability / disabled

This is the term used to describe your inability to work due to sickness or injury. Totally disabled is when you can’t work at all, and partially disabled is when you can only work in a reduced capacity.

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