Archives: Glossary Terms

A written document that contains the terms of the contract between the insurance company and the policyholder.

A temporary insurance policy that grants its holder the option to renew the temporary policy at the end of the policy period.

An insurance policy issued to insure the life or health of a designated person.

<strong>Life insurance policy</strong> – A contract through which the insurance company commits to pay a benefit when the insured person dies.

A master policy issued for the employer or an association by an insurance company that underwrites an insurance coverage for a specific group of persons.

An individual insurance policy that binds the insurer to renew the policy while complying with premium payments—at least until the insured reaches the age limit stipulated in the policy.

Payments that the insured debtor has to make to pay off their loan in the form and manner with which they were bound in the promissory note. Each payment will be credited to the oldest due period.

It is a serious and sometimes mortal disease. It is generally transmitted through cuts or penetration of an oxidized object such as nails, fishhooks, knives, etc.

The surgical procedure of transferring bone marrow from one person to another, or from a person to themselves.

The surgical procedure to transfer, from one person to another, any of the following organs: a) Bone marrow, b) Heart, c) Liver, d) Kidneys, e) Lungs, and f) Pancreas.