Welcome to our glossary.
We are passionate about making insurance simpler and easier for everyone to understand. So we thought it would be helpful to explain some of the unfamiliar terms that we have to use to ensure we are accurate.
We would love this to become the most comprehensive glossary in the industry so if you spot a term not listed here, please send a note to
Simplifying the language we use is critical to our mission. We found that we couldn’t avoid using some technical terms because it’s the language of our industry and changing them might cause confusion. Instead, we have explained each using plain language. This glossary is intended to help you understand insurance terms which may be confusing or complex. It isn’t intended to replace conversations with our agents or partners, who are equipped to help you make the right decisions for your needs.
The information you gave to buy a policy. We will assess the information on your application to accept it or not.
This is the age at which you're able to take action; for example to withdraw funds or receive benefits. We calculate this as your current age, based on your nearest birthday.
This feature allows you to stay covered even if you have missed a premium payment. The money and interest are deducted from your cash value, which means that your benefits will be reduced if you don't restart your payments.
This is an accelerated payout enabling the policy owner to receive the same before an event of death. The death benefit of the base plan is thereby reduced to the extent of the accelerated payout made.