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.
Qualifying Policy
A life insurance policy which has been certified by the Inland Revenue
as complying with the 'Qualifying Policy Regulations'. Proceeds on
maturity or death will not give rise to a tax charge.
Qualifying Service
The period for which an employee must be employed by a company before
becoming eligible to join a group scheme. Also refers to the service to
be taken into account to entitle a member of a pension scheme to 'short
service benefit'.
Quotation
The illustration provided to show the costs of insurance cover. The
quotation document forms the basis of a new contract or the renewal of
an existing one. It contains details of the conditions, benefits,
caveats and premiums for the policy.
