Canadian Financial, Real Estate and Mortgage Glossary

Insurance Terms

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province of domicileDefinition (Investments, Mortgages, Real-estate, Insurance, Financial-banking, Legal-contracts)
The province where an individual lives or intends to live permanently or for a long term, regardless of the individual's current location.
Prudential Retirement Insurance and Annuity Company (PRIAC)Company
Public Service Death Benefit Account (PSDBA)Canada
  ➥  (Consolidated Revenue Fund)
qualifying eventDefinition (Insurance)
An event that qualifies for insurance coverage.
qualifying life event (QLE)Acronym
  ➥  An event where you apply or change an insurance policy due to marriage, new dependants or employment status.
quality-adjusted life year (QUALY)Acronym
ransom and kidnap (R&K)Acronym
  ➥  Travel insurance policy.
rate to bottom line (RTBL)Acronym
re-entryDefinition (Insurance)
The option to renew coverage at the end of a term, generally with level premiums.
Real Estate Insurance Exchange (REIX)Company, Calgary, Alberta, Canada
reciprocal insurance exchangeDefinition (Insurance, Financial-banking)
A group of individuals, firms and corporations that mutually insure each other.
Registered Financial Planner (RFP)Acronym (Designation)
Registered Insurance Brokers of Ontario (RIBO)Company Est.1981, Ontario, Canada
reinstatementDefinition (Insurance)
Resuming an insurance policy that has either lapsed or been terminated.
reinsuranceDefinition (Insurance)
The process of one insurance company sharing liabilities from an insurance policy with another insurance company in order to lessen exposure, or in other words, insurance for insurers.
reinsurance cededDefinition (Insurance)
The amount of insurance that is reinsured with another insurance company.
reinsurance earned premiums (REP)Acronym
reinsurance recoverables to policyholder surplusDefinition (Insurance)
A method used to determine how much an insurer relies on reinsurance.
reinsurerDefinition (Insurance)
An insurance company that provides coverage for a portion of another insurance company's risk.
renewable termDefinition (Insurance, Legal-contracts)
An insurance policy that is can be renewed without needing the policyholder to re-qualify for insurance coverage.
renewal premium receipt (RPR)Acronym
renewal transfer (RT)Acronym
rent loss insuranceDefinition (Real-estate, Insurance)
Hazard insurance that pays for a loss in rental value or rental income if damage causes the property to become unfit for habitation.
rental dwelling policy (RDP)Acronym
rental policy (RL)Acronym
renter's insuranceDefinition (Insurance)
Insurance that covers renters for liabilities or damages occurring to or within insured property.
replacement costDefinition (Insurance)
The amount one would have to pay to rebuild and refurnish with materials and items of similar value. The cost of replacing an asset with one of equal value without taking depreciation into account.
reserveDefinition (Investments, Insurance, Financial-banking)
Money retained for some future use.
residual benefitDefinition (Insurance)
Insurance benefits paid to individuals who lose income due to a covered disability.
residual value insurance (RVI)Acronym
respite careDefinition (Insurance)
Medical or non-medical care provided for a sick or disabled person which is arranged to give a primary caregiver respite for a short or extended period of time.
returnDefinition (Investments, Taxation, Insurance, Financial-banking)
Any increase in value or in income you earn on purchase or investment.
revocable beneficiaryDefinition (Investments, Estate-management, Insurance)
A beneficiary whose benefit can be modified without his or her consent.
riderDefinition (Insurance, Legal-contracts)
Additional insurance coverage that can added onto another insurance policy.
risk classDefinition (Insurance)
A number of people who are grouped together because they pose similar levels of risk to an insurance company.
risk managementDefinition (Insurance)
The methods used to identify, assess, and prioritize risk and the strategies used to manage them in the most effective and economical way possible.
risk management insurance and finance (RMIF)Calgary, Alberta, Canada
risk management self-appraisal module (RMSAM)Canada
risk-standardized mortality rate (RSMR)Acronym
Roins Financial Services Limited (RFSL)Company, Toronto, Ontario, Canada
Saskatchewan Government Insurance (SGI)Company, Saskatchewan, Canada
Saskatchewan Municipal Hail Insurance (SMHI)Company Est.1917, Regina, Saskatchewan, Canada
  ➥  A non-profit, municipal organization operated by Saskatchewan farmers.
second-to-die insuranceDefinition (Estate-management, Taxation, Insurance)
Life insurance that only pays a death benefit when both spouses have died, commonly used in estate planning.
segregated fundDefinition (Investments, Insurance)
Investment vehicles that feature both maturity and death guarantees. Segregated funds share similarities with mutual funds but are categorized as insurance products.
selection biasDefinition (Investments, Insurance, Financial-banking)
A statistical error made when non-random data is added into a dataset.
self employed health insurance (SEHI)Acronym
Self Employed Insurance Group (SEIG)Company, United States
self insuranceDefinition (Insurance, Financial-banking)
Setting aside money or assets for a potential future loss.
self-build insuranceDefinition (Mortgages, Real-estate, Insurance)
Insurance that covers a homeowner for problems involved in a construction project.
self-selection biasDefinition (Investments, Insurance, Financial-banking)
A selection bias that occurs when individuals join a sample group voluntarily.
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Policy and Re-Insurance...Protection and Indemnity...
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Province of Domicile — Self-Selection Bias
  Next Page
Shipowner's LiabilityTotal Loss

Search the Glossary

Index of Insurance Terms

Page 1: Accelerated Benefit Option
Bankers Blanket Bond
Page 2: Basis
Chartered Life Underwriter
Page 3: Chartered Property and...
Contractual Liability...
Page 4: Contributory Negligence
Driver's Fatal Accident...
Page 5: Duplicate Policy
Flood Insurance Rate Map
Page 6: Flood Insurance Study
High Risk Auto Insurance
Page 7: Home Care
Insurance Proceeds
Page 8: Insurance Proceeds Not...
Loss Payee
Page 9: Loss Ratio
Net Client Cash Flow
Page 10: Net Premium
Policy & Claims
Page 11: Policy and Re-Insurance...
Protection and Indemnity...
Page 12: Province of Domicile
Self-Selection Bias
Page 13: Shipowner's Liability
Total Loss
Page 14: Transferable Insurance...
Vanishing Premium Policy
Page 15: Variable Adjustable Life...
Yearly Renewable Term

Notable Terms

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