Glossary
Benefit Period
It is the time span for which an insurance company provides benefits to the insured person or his/her dependents.
Bonds
A long-term debt instrument with a pre-specified rate of interest, payable principal and due dates, which is issued by a government or a corporation.
Business Insurance
An insurance policy which is taken up by a business for covering up the losses incurred due to attrition of employees.
Beneficiary
An institution or person who inherits the money or property left to them in the form of the contents of an individual's last will and testament, or in the form of proceeds from a life insurance policy, annuity policy or trust.
Breach of condition
A violation of the terms and conditions of a contract which renders the insurance contract invalid such that it is no longer binding on the parties involved.
Tax Singh
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