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There are a lot of terms, words and phrases that you should know about insurance. Use this insurance definition glossary to better understand the meaning of each term.
Actuary definition: A person from Actuarial Society of India, who manages & assesses the risks of insurance policies & investments. Click now to read more.
An accidental death definition dictates that a death resulting from external causes like car & motor accidents. Read complete accidental death meaning here!
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A typical beneficiary definition states that a beneficiary is a person or an entity that receives claim amount & other death benefits upon the death of the benefactor. Know more on beneficiary lists & policy.
Breach of contract is a legal cause of action and a type of civil wrong, in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. Breach occurs when a party to a contract fails to fulfill its obligation(s) as described in the contract, or communicates an intent to fail the obligation or otherwise appears not to be able to perform its obligation under the contract. Where there is breach of contract, the resulting damages will have to be paid by the party breaching the contract to the aggrieved party.
