A-Share Variable Annuity: A type of variable annuity where sales charges are paid upfront instead of as a surrender charge later.

Accelerated Death Benefits: A life insurance benefit that allows policyholders diagnosed with terminal illnesses to receive part of their death benefit in advance.

Accident and Health Insurance: Coverage for accidental injury, accidental death, and medical expenses, including preventive and catastrophic care.

Actual Cash Value: Insurance payout equal to the replacement cost of damaged property minus depreciation.

Actuary: A professional who analyzes statistical data to assess insurance risks, determine rates, and ensure financial stability.

Additional Living Expenses: Extra costs covered by homeowners insurance when a home becomes uninhabitable due to a covered peril.

Adjuster: An insurance professional who evaluates losses and settles claims for policyholders.

Admitted Assets: Assets recognized by state insurance laws to determine an insurer’s financial stability.

Admitted Company: An insurance company licensed to operate in a specific state.

Adverse Selection: The tendency of high-risk individuals to purchase more insurance, leading insurers to adjust premiums or coverage availability.

Agency Companies: Insurance companies that sell policies through independent agents.

Agent: A person who sells insurance, either independently for multiple insurers or exclusively for one company.

Alien Insurance Company: An insurer incorporated in a foreign country but doing business in the U.S.

Allied Lines: Property insurance typically bought with fire insurance that includes coverage for wind, water damage, and vandalism.

Alternative Dispute Resolution (ADR): A process, such as arbitration or mediation, for resolving insurance disputes without going to court.

Alternative Markets: Self-insurance funding mechanisms, including captives and risk-retention groups.

Annual Annuity Contract Fee: A charge for administering an annuity contract.

Annual Statement: A yearly financial summary of an insurer’s operations filed with state regulators.

Annuitant: The person who receives payments from an annuity contract.

Annuitization: The process of converting annuity savings into periodic income payments.

Annuity: A financial product that provides periodic income payments for a set time or lifetime.

Annuity Accumulation Phase: The period when an annuity owner makes payments to build up assets.

Annuity Administrative Charges: Fees for customer service and management of variable annuities.

Annuity Beneficiary: The person who receives payments if the annuity owner dies before payments are completed.

Annuity Contract: A legal agreement between an insurer and an annuity owner outlining terms and conditions.

Annuity Contract Owner: The individual or entity that purchases and holds rights to an annuity contract.

Annuity Death Benefits: A guarantee that beneficiaries receive annuity funds if the contract owner dies before payout completion.

Annuity Insurance Charges: Fees covering administrative and risk costs in annuity contracts.

Annuity Investment Management Fee: A charge for managing the invested assets of a variable annuity.

Annuity Issuer: The insurance company that provides an annuity.

Annuity Prospectus: A legal document detailing the terms and investment risks of a variable annuity.

Annuity Purchase Rate: The cost of purchasing an annuity based on age, gender, and other factors.

Antitrust Laws: Regulations preventing companies from engaging in price-fixing or restricting competition.

Apportionment: The process of distributing a loss among multiple insurers covering the same risk.

Appraisal: A valuation process to determine the insurable value of property or the extent of a loss.

Arbitration: A dispute resolution method where an impartial third party determines the outcome of an insurance claim dispute.

Arson: The intentional setting of a fire, often for fraudulent insurance claims.

Asset-Backed Securities: Bonds backed by pools of loans, such as mortgages or auto loans.

Assets: The financial resources owned by an insurer, including stocks, bonds, and real estate.

Assigned Risk Plans: Insurance pools that provide coverage to high-risk drivers who cannot obtain it in the regular market.

Auto Insurance Policy: A contract that provides coverage for vehicle-related risks, including liability, collision, and theft.

Auto Insurance Premium: The cost of auto insurance coverage based on risk factors like driving history and vehicle type.

Aviation Insurance: Coverage for aircraft, including property damage and liability for injuries to passengers or third parties.