account selling: Account selling is trying to handle all of a client’s insurance needs, rather than providing for only a portion of those needs.
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Author: FastInsurance24.com
account current: An account current is the billing statement an insurance company sends to its producer.
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accidental death benefits: A provision added to a life insurance policy for payment of an additional benefit in case of death that results from an accident. This provision is often called “double indemnity.”
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accidental bodily injury: Physical injury sustained as the result of an accident.
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accident report form: An accident report form is used to record key information about the accident.
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accident and health loss ratio: The ratio of accident and health incurred claims plus increase in policy reserves to premiums earned.
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accident and health expense ratio: The ratio of accident and health expenses incurred (general expenses, commissions, taxes, licenses, and fees) to premiums earned.
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accident and health combined ratio: The sum of the accident and health loss ratio and the accident and health expense ratio.
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Accident – insurance term definition
accident: An event that is unforeseen, unexpected, and unintended.
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accelerated benefits: Benefits available in some life insurance policies before death, usually triggered by long-term, catastrophic or terminal illness. Also known as living benefits.
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