- Beneficiary
- The person or entity designated to receive the proceeds of a life insurance policy.
- Casualty Insurance
- Insurance covering liability for property damage or injury to others, such as auto or general liability coverage.
- Deductible
- The amount a policyholder pays out of pocket before insurance coverage begins to pay.
- Line of Authority
- A category of insurance (such as Life or Property) that an agent is licensed to sell.
- Peril
- A specific risk or cause of loss, such as fire or theft, that a policy covers or excludes.
- Policyholder
- The person or entity that owns an insurance policy.
- Pre-licensing Education
- State-required coursework completed before an applicant is eligible to sit for a licensing exam.
- Premium
- The amount a policyholder pays, usually periodically, to keep an insurance policy in force.
- Property Insurance
- Insurance covering physical property against loss or damage from covered perils.
- Underwriting
- The process an insurer uses to evaluate risk and decide whether, and on what terms, to issue a policy.
