Glossary Group: Glossary of Insurance Terms

It means dismemberment by separation. When using this term with regard to a hand or foot, it means the loss by full separation beyond the wrist or ankle. When used with regard to an arm or leg, it means loss by full separation beyond the elbow or knee. When used with regard to an eye, it means total and unrecoverable loss of vision. Enucleation need not have occurred.

An acute and chronic bone disease, generally caused by bacteria. The infection that causes osteomyelitis originates in another part of the body and spreads to the bones through the blood. The bone may have been predisposed to the infection due to a recent trauma.

The insurance company agrees to pay the policy proceeds in periodic installments throughout the recipient’s life.

The death benefit amount.

The frequency with which renewal premiums must be paid.

The system in which policyholders authorize their banks to pay premiums automatically on premiums’ due dates.

An infection that causes inflammation of the membranes that cover the brain and the spinal cord. It is also caused by fungi, chemical irritation, allergies to drugs, and tumors. Non-bacterial meningitis is frequently referred to as “aseptic meningitis,” while the bacterial one may be referred to as “purulent meningitis.”

When referring to a cancer diagnosis, it means a physician who is a Hematologist-Oncologist or Pathologist legally authorized to practice medicine, certified by the American Board of Pathology to exercise Pathological Anatomy and Oncological Hematology, provided it is not the insured or a relative to the fourth degree of consanguinity or third degree of affinity. When referring to the diagnosis of any of the dread/critical diseases or any other disease, it means a physician who is a legally authorized specialist to practice medicine, to treat diseases and injuries, and to provide services within the limits of their license, provided it is not the insured or a relative to the fourth degree of consanguinity or third degree of affinity.

An autoimmune, inflammatory, and chronic disorder that may affect the skin, joints, kidneys, and other organs.

Bodily damage suffered accidentally by an insured, as defined, directly or separately from any other causes, after the effective date and while the policy is in force. Included are also damages in which there are no bruises, wounds, or any other visible evidence, but whose accidental nature may be proven through medical exams or autopsy, in case of death.