IFS MMS Topic 5 Word Scramble
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Term | Definition |
Certificate of insurance | Document proving you are insured. Gives name, address, amount if cover, the premium and the dates on which the insurance starts and ends |
Claim | You make a claim to the insurance company if a loss occurs |
Cover | The maximum amount an insurance company will pay out in the event of a claim |
Cover note | A note from the insurance company to say that the insurance policy is in operation.A temporary measure between the start of the cover and the issue of the policy. |
Excess | The part of a claim that you have to pay yourself. |
No claims bonus | A discount given on your insurance premium if you have not made a claim on your insurance policy |
Policy | The name of the insurance that you buy, eg house insurance policy |
Premium | The price quoted by the insurance company for the insurance |
Schedule | List of items that are insured. |
Sum assured | The amount of cover when referring to a life assurance policy |
Sum insured | Another way of saying the amount of cover |
Created by:
KayeDavis
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