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Glossary  Of  Insurance Terms

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Terms marked with an asterisk are from LOMA’s Glossary of Insurance and Financial Services Terms. Copyright © 2002 LOMA (Life Office Management Association, Inc.). Used with permission from LOMA. All rights reserved. Copying these terms without permission from LOMA is a violation of U.S. federal law and international law. For information on purchasing a copy of the Glossary or for additional information on LOMA and its educational programs, visit LOMA’s Web site at However, LOMA makes no representation or endorsement, express or implied, regarding this Handbook, its owner or its products or services. LOMA is a Georgia, U.S. nonprofit trade association and is not related to the owner of this Handbook in any way and use of this Glossary does not indicate a sponsorship, endorsement or affiliation with or by LOMA. By choosing to read these terms, you hereby agree not to use or rely on the definitions contained in LOMA’s Glossary in interpreting any particular policy or contract or groups of policies or contracts, whether issued by the owner of this Handbook or anyone else or in connection with the interpretation of a legal or insurance issue. These definitions are for general informational and educational purposes only. You should consult a qualified professional for interpretation of terms in a specific contract. LOMA does not interpret insurance policies in whole or in part and LOMA is not legally responsible for any interpretation of policy or contract terms used by any insurer, the owner of this Handbook or any other person. Furthermore, the Glossary is a compilation of definitions from various LOMA texts; however, it is not an assigned text for any LOMA course. Sometimes a definition in the Glossary will differ somewhat from the definition in a text because of the nuances of the subject matter in the text. A student taking an exam always should rely on the definition in the assigned text rather than the one in the Glossary.