Keller-Lowry Insurance, Inc.
1777 S. Harrison Street, Suite 700
Denver, Colorado 80210
- F - Insurance Glossary
Please choose the letter you wish to define:
The first page of a life insurance contract.
- Face Amount:
An amount stated on the face that will be paid in case of death
or at the maturity of the policy.
- Factory Mutual:
A mutual insurance company insuring only properties that meet
high underwriting standards.
- Facultative Reinsurance:
Type of reinsurance in which the reinsurer can accept or reject
any risk presented by an insurance company seeking
- Fair Rental Value:
An amount payable to an insured homeowner for loss of rental
income due to damage that makes the premises uninhabitable.
- Family Expense Policy:
A policy which insures the medical expenses of both the
policyholder and immediate dependents.
- Family Income Policy:
A insurance policy that pays an income up to a specific period of
time to the beneficiary after the death of the insured.
- Family Policy:
A life insurance policy providing insurance on all or several
family members in one contract, generally whole life insurance on
the principal breadwinner and smaller amounts of term insurance
on the other spouse and children.
- Farmowners-Ranchowners Policy:
A package policy for a farm or a ranch, providing property and
- Federal Crop Insurance:
A comprehensive coverage at rates subsidized by the federal
government for unavoidable crop losses.
- Federal Flood Insurance:
A type or insurance sold by private insurers (with rates
subsidized by the federal government) to persons who reside in
flood zones and whose community joins the program and agrees
to establish and enforce flood control and land-use measures.
- Fidelity Bond:
A bond that will reimburse an employer for losses caused by
dishonest or fraudulent acts of employees.
A person who holding the funds or property of another in trust.
- Financial Responsibility Law:
A state law which may require motorists to furnish evidence,
either before or after involvement in an auto accident of ability to
pay for damages up to certain minimum dollar limits.
Combustion accompanied by a flame or glow, which escapes
normal confines to cause damage.
- Fire Legal Liability:
Liability of a business or a person for damage caused by
negligence to property of others.
- First Party Insurance:
Insurance coverage which the policyholder collects
compensation for losses from the insured's own insurer.
- Fixed Annuity:
Annuity whose periodic payment is a guaranteed fixed amount.
- Fixed Period Installments:
Life insurance settlement option in which the policy proceeds are
paid out in fixed amounts.
An insurance policy that covers property that can be moved
from one location to another for both transportation perils and
perils affecting property at a fixed location.
- Flood Insurance:
Coverage against loss resulting from rising water.
Amounts contributed on behalf of terminated, non-vested
- 401(k) Plan:
A salary reduction plan that allows employees to contribute a
portion of their salaries on a tax-deferred basis.
- Franchise Deductible:
Deductible in which the insurer has no liability if the loss is under
a certain amount, but once this amount is exceeded, the entire
loss is paid in full.
- Franchise Insurance:
A type of insurance in which individual polices are issued to the
employees of a common employer or the members of an
- Fraternal Insurance:
Insurance offered to a social organizations for their members.
Money held in trust to pay pension benefits.
- Future Increase Option:
An option that allows the insured to purchase additional disability
income insurance at a specified future date without evidence of
Insurance Glossary is Copyrighted By Richard H. Reynolds.
Keller-Lowry Insurance, Inc. Uses This Glossary By Permission.
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