Insurance Glossary

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | 

Reinstatement
The process by which an Insurer puts back into force a policy that either lapsed or converted to extended term and the term has not yet expired.
Revocable Beneficiary
A life insurance policy beneficiary whose right to the policy’s proceeds can be cancelled or reduced by the policyowner at any time before the Insured’s death.
Rider
A supplemental benefit attached to and forming an integral part of the policy.  Riders are usually added to the policy to customize a basic plan of insurance or provide additional coverage.