Annuitant
Annuitant is the person who receives certain amounts at yearly/half yearly/quarterly/monthly intervals. |
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Annuity
It is a scheme where under certain amount is paid at yearly/half yearly/quarterly/monthly intervals. |
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Assignee
Assignee is the person to whom the benefits under a life policy are assigned. |
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Assignor
Assignor is the person who holds the right/title under the policy and who can make a valid assignment. |
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Bonus
Bonus is the amount added to the basic sum assured under a with-profit life insurance policy. |
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Claim Amount
It is the amount payable by the insurer under a policy on a claim arising |
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Dating Back
Dating Back or Back Dating is an option to the life assured to get the advantage of lower age wherein the policy is commenced from a date earlier than the date of signing of proposal form. However backdating is limited to one year. |
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