You must be familiar with the word "insurance", or maybe you are one part of the insurance? either as a client or as a person who works at an insurance company. For you as an insurance customers is knowing in detail the terms that exist on insurance? for those of you who work at an insurance company, may not be familiar with the term that is in insurance, or even you have memorized well.

Well for those of you an insurance customers, or you are not as insurance customers, or even you are planning to buy insurance, possibly in insurance terms below are important to know:

  1. Insurance Policy: Letter Agreement containing the insurance agreement between the Insurer with Policyholder.
  2. Applicant (Applicant): People who are applying for an insurance. If the insurer has been approved, the applicant will be the policyholder.
  3. Policyholders (Policy Owner): Holder of an insurance policy.
  4. Insured (Insured): A person who becomes the object insured or the insured.
  5. Recipients Sum Assured (beneficiary): The person or consists of several people designated to receive insurance benefits or insurance money.
  6. Sum Assured: The value of money stated in the insurance policy to be paid by the insurer to the Holder.
  7. Premiums: The amount of money that becomes the burden of the insured and listed in the policy and has agreed to pay to the Insurer in accordance with the agreement.
  8. Cash Value: The amount of money that is listed in the policy that will be paid to the policyholder if the policy is canceled before the insurance period expires or when the insured dies.
  9. Insurable Interest: The relationship between the insured and the objects insured by the company, regarding matters that are potentially great cause hazards that can result in financial losses for the insured.

How? Do you already know now? For more details about the details of these terms, you can visit the office of the insurance company if you really want to buy insurance.