The Jargon Buster Directory is your central resource for locating an explanation to typical terms found for within all industries , professions and governments. Use our directory to locate and decipher jargon that you would like an explanation for. Keeping our directory up to date and to include all the spheres where jargon is used is a never ending task for us. We have started with what we can locate but but it is a vast subject and can be very niche specific. Are you in a profession or industry that uses jargon that is NOT included here? Then why not send us your own jargon buster text and we will include it within our database. to say thank you we will provide you with a return link back to your web site.
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Jargon Buster
Insurance - LifeLife insurance jargon is one of those areas that most people do not want to think about - who wants to even consider their demise or death let alon plan for it for someone else to have a financial reward for it? Life insurance jargon simply breaks down the types of life insurance one can purchase in order to protect another partner or business for example who will usually inherit debt and therefore lose an asset if not catered for. This life insurance jargon directory is not detailed at present and we feel sure that there is more to add so if you know of any more terms that we need to include please do let us know to make our life insurance jargon buster more comprehensive.
Life insurance jargondecreasing term life assurance This means that the sum assured you are covered for goes down gradually over the policy term. We do not offer this type of term life assurance.
joint life first death policies These are life insurance policies that pay out if either you or your partner dies first. Once the claim has been paid, the policy ceases. Our life insurance and family income life cover are both available on a joint life first death basis.
joint life second death policies These are life insurance policies that pay out on the death of the second policyholder. Nothing is paid out if the first policyholder dies and there will only be a payout if the second policyholder dies within the term of the policy.
life assurance Life assurance is exactly the same product as life insurance. It can help protect your family against the financial consequences of your death.
level term life insurance This means that the sum assured you are covered for will not change throughout the term of your policy. We offer level term life insurance here at engage.
life insurance quote A life insurance quote will tell you how much cover you may get and how much it may cost. This will depend on a number of factors such as age, gender, smoker status and the term length you require.
sum assured The sum assured is the amount of life insurance which would be paid out on your death.
term/policy term A term is the number of years you are covered for under the policy. Our Life Insurance offers terms of 10, 15, 20 and 25 years. Our Family Income Life Cover offers a set term of 20 years.
term life assurance/insurance Term life insurance/life assurance is a form of insurance you take out to help protect your family financially should you die. You take out term life insurance for a period of time (term) that you choose. Should you die within the agreed term the policy pays out a lump sum. Once the policy reaches the end of its term cover ends.
whole of life assurance/insurance Whole of life insurance is a life insurance policy that runs throughout your life until you die. Your loved ones are guaranteed to receive a lump sum when you die. Our whole-of-life plan is for UK residents aged between 50 and 75 and features guaranteed acceptance with no medical.
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