A shipment term under which the seller assumes the responsibility for the Insurance, and the carriage of goods to the agreed point of destination. These charges are indicated in the invoice along with other charges.

A way of determining the net cost of life insurance to the insured. The total amount the insured gets back from the insurer is deducted from the total amount the insured has paid to the insurer.

Synonym for the mortality charge. The charge associated with the pure insurance protection element of a life insurance policy.

With this rider, the initial benefit doesn’t change as it does with the automatic increase rider, but the benefit increases after disability. The purpose of this rider is to keep the insured’s purchasing power even with inflation. For example, with a 3% COLA rider and an initial benefit is $5,000 per month, in year 2 the benefit would increase to $5,150 per month or by the amount of inflation if less than 3%.

A disability benefit in which the benefit is increased after 12 months and annually thereafter.

An option disability benefit where the monthly benefit will be increased annually once the insured is on claim for 12 months.

An index, such as the Retail Prices Index, which measures changes in prices over a period.

A rider that provides for an increase in benefits due to changes in cost of living. Increases are usually done because of changes in the Consumer Price Index.