Situation in which an individual, whose condition is not yet permanent and stationary, is unable to perform his or her usual work duties for a limited period of time. It is anticipated that he or she will fully recover from the condition and be capable of returning to work.
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US: This benefit is payable when the injured worker is unable to work during a period when he/she is under active medical care and has not yet reached what is called “maximum medical improvement” (MMI). By virtue of simple common sense, once “maximum medical improvement” has been reached the condition can no longer be categorized as temporary.

Type of insurance that is in force and provides protection for a specified period of time (the term). It does not build cash value and if the insured survives the stated period, it expires without value. Insurance is payable to a beneficiary at the death of the insured provided death occurs within a specified period or before a specified age. Also called term life insurance .

Additional insurance coverage that may be purchased when a permanent life insurance policy is bought. Both types of insurance are included in one contract.

Extra dividend paid to a life insurance policyholder between the last policy anniversary date and the termination date of the policy. Also called terminal policy dividend .

Cancellation of an insurance policy by an insurance company when premium is not paid, if insured dies, or a dependent is no longer eligible for coverage. Health insurance benefits are not paid for medical services received after the date of termination.
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The formal ending of a reinsurance agreement by its natural expiry, cancellation, or commutation by the parties. Terminations can be either on a cutoff or runoff basis. Under cutoff provisions, the parties’ obligations are fixed as of the agreed cutoff date. Otherwise, obligations incurred while the agreement was in force are run-off to their natural extinction.

Month, day, and year a health insurance policy’s coverage ends.

Dollar amount costs of processing death benefit claims and cash surrenders of a life insurance policy.