Life insurance & Mortgage Protection Glossary

You will encounter plenty of jargon and technical terms when looking for a MortgageProtection. Get ahead with A to Z glossary to Life InsuranceandMortgageProtection. Click on the letter below to search for the word you're looking for.

Accident, Sickness and Unemployment (ASU)
Accident, Sickness and Unemployment (ASU)also known as Mortgage Payment Protection Insurance (MPPI), Unemployment Insurance, ASU cover provides a payment should the policyholder be unable to work through accident or sickness or is made Unemployed. It is usually intended to cover regular bills such as Mortgages, Loans, etc.

Accident Insurance Cover
Accident Insurance Cover is a "catch-all" term for events covered under an Insurance Policy that does not fit into easily identifiable categories such as storm, fire, flood, etc.

Accidental Damage Cover
Accidental Damage Cover is an added option on Home Insurance policies that provides cover for incidents like spilling paint on a carpet.

Accidental Death Insurance
Accidental Death Insurance is a more restricted version of Life Insurance that only pays the sum assured if death is due to an identifiable accident, so natural causes are excluded.

Accidental Insurance
Accidental Insurance is a generic term for Insurance policies which cover incidents that is accidental.

Accidents Insurance
Accidents Insurance is a generic term for Insurance policies that cover events of an accidental nature that can’t be classified under other categories such as storm, fire, theft, flood, etc

Adventure Travel Insurance
Also described as backpacker’s Insurance, this is travel Insurance Cover intended for either long stays or when participating in more dangerous pursuits.

Affordable Health Insurance
Health Insurance premiums can be reduced if smaller policy limits apply, less conditions are covered, or a higher excess is taken (or a combination of all three).

Apartment Insurance
Apartment Insurance, also known as Flat Insurance, Flat Buildings Insurance or Flat Contents Insurance, Insurance for a flat and its contents.

Assured
Those insured under the terms of an Insurance policy.

Beneficiary
The person to whom the payout will be made in case of your death.

Benefit
The money paid to the policyholder when a claim is made.

Boat Insurance
Boats and small craft are not insured under household Insurance policies (although sometimes are available as added options), and so a separate boat Insurance policy is required.

Building And Contents Insurance
Building Contents Insurance is Insurance that pays for damage to, or loss of, your personal possessions whilst they are located within your home. Some Buildings Contents Insurance policies also provide restricted cover for personal possessions temporarily taken away from the home by the policyholder. Also known as Buildings Contents Insurance.

Building Insurance
Building Insurance covers the fabric of the Property - the walls, roof, fixtures and fittings, etc.

Buildings Insurance
Buildings Insurance also known as Building Insurance covers the fabric of the Property - the walls, roof, fixtures and fittings, etc.

Buy To Let Building Insurance
Buy To Let Building Insurance is when a Property is bought with the intentions of letting it to tenants and securing an income, this becomes a Commercial Mortgage and therefore needs specialist Buy To Let Buildings Insurance rather than a standard household Insurance policy.