There are many different types of Car insurance policies and levels of
cover, here is a brief description of insurance definitions typically
used within the insurance industries.
Facultative Reinsurance
A type of reinsurance in which the reinsurer can accept or reject any
risk presented by an insurance company seeking reinsurance.
Family Income Policy
A form of term insurance. If the death of the insured occurs during the
term an income will be paid from the date of death to the end of the
term.
Financial Planning Certificate
A professional qualification for financial advisers obtained by
examination through the Chartered Insurance Institute. Holders are
entitled to be Registered with the Society of Financial Advisers.
FPC
Financial Planning Certificate.
Free Cover Level
The maximum amount of benefit for which an insurance company is prepared
to insure a member of a group insurance scheme without the member
needing to provide evidence of good health.
