Category: Glossary

An injury, illness, or physical condition which existed prior to the issue of a health, disability, life, or Long Term Care policy

In Disability Insurance, a type of insurance which cannot be cancelled or altered by the insurance company as long as you continue to pay premiums on time

In Disability Insurance, an optional benefit which allows you to purchase additional coverage up to a stated age, regardless of health, as long as your income warrants the increase

Certain conditions and causes which are not covered by a policy

The consecutive number of days for which no benefits are payable at the start of a disability or Long Term Care claim

Gross salary, wages, commissions, fees, etc., you get from being actively employed

The longest period of a time a disability or Long Term Care policy will pay you benefits

In Disability insurance, your physical or mental inability to perform the major duties of your occupation because of sickness or injury

The process used by an insurance company to assess the risk of providing insurance to you, meaning they look at your current health status and history

In life insurance, the person — or entity — who gets the money after you die