TomorrowMakers ™

(Please click on alphabets above to access specific pages)

Accumulation Period

It is the time interval between the start of the policy and the time when the beneficiary receives the pay out. It is decided by the person buying the insurance policy i.e. the policy holder.


An insurance professional who specializes in assessment of risk factors in order to determine the rates as well as premiums associated with an insurance policy.

Adjustable Life Insurance

A type of life insurance policy wherein a policy holder has the facility to make alterations to his/her insurance policy, its premium, and even its term.

After Tax Rupees

It refers to the disposable income left with the policyholder after he/she has paid all taxes in a financial year, as specified under the Income Tax Act.

Age Limits

The maximum and minimum ages over or below which an insurance company doesn't accept insurance applications or doesn't renew a policy for an individual.

Aggregate Limits

There is a limit on the amount of pay out an insurance company will give under one insurance policy year. Rather than number of occurrences, aggregate limits put restriction on the value of pay out.

All risk Agreement

It is a property or liability insurance contract that covers all risks of loss except those that are particularly excluded.


The beneficiary of an annuity policy i.e. the person during whose life the annuity policy's payments last.


A representative from the insurance company who surveys the insured goods, based on which the premium and extent of policy coverage can be decided.

Auto Insurance

An insurance policy bought by an individual to diminish the costs incurred on the repair of their vehicle in case of an accident that leads to damage of the vehicle.

Actual cash value

In the property insurance industry, Actual Cash Value is a method of valuing insured property. In case of damage to the property, ACV is the replacement value after depreciation is deducted.

Actuarial Science

It is a subject that deals with the assessment of risks related to insurance using different statistical and mathematical methods.


A change or alteration made to an insurance policy, in terms of increasing or decreasing coverage, which changes the terms and condition of the original legal contract.

Age at Entry

It is the age of the proposer or insured at the time he/she fills the application form for insurance or enters into the insurance contract.


An agent is a representative of the insurance company who sells insurance policies on behalf of the company.

Aleatory Contract

A legal contract in which the performance of one or both parties involved depends upon a particular event. For example, a life insurance contract wherein the insurer only gives a pay out to the family of the insured in case of his/her death.

Annuity Policy

An insurance policy that guarantees regular inflow of income for a particular amount of time, or for the entire life of a particular person or persons.

Application Form

Provided by the insurance provider to the insured, in order to capture the required details for enrollment.

Attained Age

It is one's present age, which is used by insurance companies to calculate premiums. As one gets older, possibility of death during the insurance period cover increases, and so does premium.

Health Insurance Riders


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