Insurance company’s local or regional sales offices.

First step in the risk selection process in which an insurance agent puts together information about the proposed insured and puts this information on an application form so that the home office underwriter can make an underwriting evaluation and decision.

Acronym that means first in, first out. It is a queuing system in which the next item to be acquired is the oldest item (or first item) in the queue.

Symbol used in the diagnostic code book titled International Classification of Diseases, Ninth Revision, Clinical Modification (ICD-9-CM) . It is used to indicate that a fifth digit is required for coding to indicate the highest level of specificity. Also see fourth and fifth digits .

Also called additional insurance option . See additional term insurance option .

In insurance, to submit a proposed policy form to get it approved by the insurance department of the jurisdiction where it will be issued.

Formula in a defined benefit retirement plan in which the retirement benefit amount is obtained based on the participant’s average wages during a specific period (usually 3 to 5 years before retirement). Also known as final earnings benefit formula .