Glossary of Terms
Not sure what all these insurance terms mean? Get acquainted with all the terms relating to Car Insurance, Life Insurance, Funeral Insurance and the various other offerings from Hollard by reading through our glossary. You’ll find the most commonly used insurance terms listed below in alphabetical order. Click on the letter of the term you are looking for and you will find a definition or explanation to help you understand what it means.
Annual Benefit Increase
The amount by which your benefit goes up each year.
Benefits that supplement or add to your main benefit but that result from the same action.
Active Fund Manager
A fund manager who manages a fund by selecting and combining a group of instruments that he/she believes are mispriced, in the belief that by so doing they can successfully outperform a given benchmark.
Accidental Bodily Injury
An injury to a person's body as a result of an unexpected, unintentional, unfortunate event outside of your control.
Accident and Disability Insurance
Insurance that covers you in the event of accidental death or disability.
An unexpected, unintentional, unfortunate event outside of your control.
A Latin term meaning from the start.
Annual Premium Increase
The amount by which your premium goes up each year.
To transfer your rights and responsibilities under the policy to someone else.
An individual who has permission to act on someone else's behalf. In the context of FAIS, this is an individual or entity who has permission to act as a FAIS representative.
Automatic Premium Increases
The amount by which your premimum goes up each year automatically.