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Definitions (58)
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Accidental death benefit
Provides a benefit in the case of accidental death in addition to base amount of coverage.
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Agent
The insurance company (Canada Protection Plan) representative and adviser who sells insurance policies to consumers.
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Anniversary Year
Any 1-year period from the anniversary of when a policy was issued.
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Annual premium
A yearly policy fee payable by a policyholder.
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Annuity
A contract that provides income payments at regular intervals, usually for a specified period or for the lifetime of the annuitant.
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Annuity period
The time between each payment under an annuity, usually 1 month or 1 year.
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APPLICANT
The individual or party applying for an insurance policy.
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Beneficiary
The person designated to receive proceeds of an insurance policy.
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benefit
A payment or option available under the terms of an insurance policy.
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cash surrender value
A benefit that allows a policyholder to cancel the policy and receive an amount of money.
Meaning awaits approval from a moderator |
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