Definition and meaning of Insurance :

A contract whereby an insurer promises to pay the insured a sum of money or some other benefit upon the happening of one or more uncertain events in exchange for the payment of a premium. There must be uncertainty as to whether the relevant event(s) may happen at all or, if they will occur (e.g. death) as to their timing.

(Source Lloyd's )

Also see these pages: Insurance , Insurance, Insurance Sitemap, Insurance Dictionary - I

Definition and meaning of EQUITY INDEXED ANNUITY :

EQUITY INDEXED ANNUITY: Nontraditional fixed annuity. The specified rate of interest guarantees a fixed minimum rate of interest like traditional fixed annuities. At the same time, additional interest may be credited to policy values based upon positive changes, if any, in an established index such as the S&P 500. The amount of additional interest depends upon the particular design of the policy. They are sold by licensed insurance agents and regulated by state insurance departments.

(Source: Insurance Information Institute )

Also see these pages: EQUITY INDEXED ANNUITY , Insurance, Insurance Sitemap, Insurance Dictionary - E

Definition and meaning of Net Retention :

Net Retention: The amount of insurance that a ceding company keeps for its own account and does not reinsure.

(Source: InsWeb)

Also see these pages: Net Retention , Insurance, Insurance Sitemap, Insurance Dictionary - N

Definition and meaning of Write :

Write: To insure, to underwrite, or to accept an application.

(Source: InsWeb)

Also see these pages: Write , Insurance, Insurance Sitemap, Insurance Dictionary - W

Definition and meaning of solvency :

solvency: The minimum standard of financial health for an insurance company, when assets exceed liabilities.

(Source: Bank of America )

Also see these pages: solvency , Insurance, Insurance Sitemap, Insurance Dictionary - S

Definition and meaning of SEGLI :

SEGLI: Service Employees Group Life Insurance, which is issued to members of the armed forces while they are in the service. After separation it is convertible to individual policies from certain private insurers. (LI)

(Source: InsWeb)

Also see these pages: SEGLI , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - S

Definition and meaning of SAA :

SAA: See Surety Association of America.

(Source: InsWeb)

Also see these pages: SAA , Insurance, Insurance Sitemap, Insurance Dictionary - S

Definition and meaning of V&MM, VMM :

V&MM, or VMM: Vandalism and Malicious Mischief. Damage or destruction to property which is willful. Traditionally VM&M coverage was optional on many forms or added by endorsement, but today it is automatically covered by basic commercial and homeowner forms. (PR)

(Source: InsWeb)

Also see these pages: V&MM, VMM , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - V

Definition and meaning of Sublimit :

Sublimit: Any limit of insurance which exists within another limit. For example, special classes of property may be subject to a specified dollar limit per occurrence, even though the policy has a higher overall limit; a health insurance policy may limit certain benefits to fixed dollar amounts or maximum amounts per day, even though the overall coverage limit is higher.

(Source: InsWeb)

Also see these pages: Sublimit , Insurance, Insurance Sitemap, Insurance Dictionary - S

Definition and meaning of Sherman Antitrust Act :

Sherman Antitrust Act: An antitrust law from which insurance is exempted to the extent that it is regulated by state law.

(Source: InsWeb)

Also see these pages: Sherman Antitrust Act , Insurance, Insurance Sitemap, Insurance Dictionary - S

Definition and meaning of Net Premium :

Net Premium: (1) The amount of premium minus the agent's commission. (2) The premium necessary to cover only anticipated losses, before loading to cover other expenses. (3) The original premium minus dividends paid or anticipated in participating Life Insurance when the insured elects to use his dividends toward payment of the premiums. Contrast with Gross Premium.

(Source: InsWeb)

Also see these pages: Net Premium , Insurance, Insurance Sitemap, Insurance Dictionary - N

Definition and meaning of Shock Loss :

Shock Loss: A catastrophic loss so large that it has a material effect on the underwriting results of a company.

(Source: InsWeb)

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Absolute (from Latin ab away + solvere to loosen, dissolve)

Freed, released, absolved; parallel to the Sanskrit moksha, mukti (set free, released), also to the Buddhist nirvana (blown out), all three terms signifying one who has obtained freedom from the cycle of material existence.

Absolute, in European philosophy, is used somewhat loosely for the unconditional or boundless infinitude. On the other hand, Sir W. Hamilton (Disc 13n) considers the Absolute as "diametrically opposed to, . . . contradictory of, the Infinite," which is correct from the standpoint of both etymology and abstract philosophy. Blavatsky uses the term both ways: sometimes equating it with infinity, at other times with the first cause or one divine substance-principle.

Strictly speaking, absolute is a relative term. It is the philosophic One or cosmic originant, but not the mystic zero or infinitude. An absolute or a cosmic freed one is not That (infinity), for infinity has no attributes: it is neither absolute nor nonabsolute, conscious nor unconscious, because all attributes and qualities belong to manifested and therefore noninfinite beings and things (cf FSO 89-90). The boundless or infinite, in which exist innumerable absolutes, includes the cognizer, the cognized, and the cognition, and is both matter and spirit, subject and object; all egos and non-egos are included within it.

From the zero emanate an infinite number of cosmic Ones or monads. Every absolute is not only the hierarch of its own hierarchy, the One from which all subsequent differentiations emanate, but is also a cosmic jivanmukta, a released monad freed from the pull of the lower planes. Every monad at the threshold of paranirvana reassumes its primeval essence and becomes at one with the absolute of its own hierarchy once more. The absolute is thus the goal of evolution as well as the source, the highest divinity or Silent Watcher of the hierarchy of compassion, which forms the light side of a universe or cosmic hierarchy.

(See also: Absolute , Mysticism, Mysticism Dictionary, Occultism, Occultism Dictionary)

deeksha: (Sanskrit) "Initiation."

Solemn induction by which one is entered into a new realm of awareness and practice by a teacher or preceptor through the bestowing of blessings and the transmission of pranas. Denotes initial or deepened connection with the teacher and his lineage and is usually accompanied by ceremony. Initiation, revered as a moment of awakening, may be conferred by a touch, a word, a look or a thought.

Most Hindu schools, and especially Saivism, teach that only with initiation from a satguru is enlightenment attainable. Sought after by all Hindus is the diksha called shaktipata (shaktipat), "descent of grace," which, often coming unbidden, stirs and arouses the mystic kundalini force. Central Saivite dikshas include samaya, vishesha, nirvana and abhisheka.

See: grace, shaktipata, shakipat, sound.

(See also: Deeksha , Hinduism, Body Mind and Soul)

A dictionary Of Siddha Yoga Terminology. From Abhanga to Yogini.

Please note that all words in grey, like "enlightenment" or "kundalini" are hyperlinked to archives further explaining the term. At the corresponding archive you will also find articles related to the term.

A Dictionary of Spiritual Terms. From Acupuncture to Zoroaster.

Please note that all words in grey, like "yoga", "enlightenment" or "kundalini" are hyperlinked to archives further explaining the term. At the corresponding archive you will also find articles related to the term.

Definition and meaning of Representation :

Representation: Statements made by an applicant in the application, which he represents as being substantially true to the best of his knowledge and belief, but which are not warranted as exact in every detail.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Representation , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - R

Siddha master:

One who has attained the state of enlightenment and who has the capacity to awaken the dormant spiritual energy of a disciple and guide him or her to the state of the Truth.

(See also: Siddha master , Yoga, Yoga Dictionary, Siddha Yoga, Siddha Yoga Dictionary)

A B C D E F G H I J K L M N O P Q R S T U V X Y Z

faith: Trust or belief. Conviction. From the Latin fides, "trust." Faith in its broadest sense means "religion, dharma." More specifically, it is the essential element of religion-the belief in phenomena beyond the pale of the five senses, distinguishing it sharply from rationalism.

Faith is established through intuitive or transcendent experience of an individual, study of scripture and hearing the testimony of the many wise rishis speaking out the same truths over thousands of years. This inner conviction is based in the divine sight of the third eye center, ajna chakra.

Rightly founded, faith transcends reason, but does not conflict with reason. Faith also means confidence, as in the testimony and reputation of other people. The Sanskrit equivalent is shraddha. Synonyms include astikya, vishvasa, dharma and mati.

(See also: Faith , Hinduism, Body Mind and Soul)

A dictionary Of Commonly Used Sanskrit terms. From Lac to Omkarasana.

Please note that all words in grey, like "yoga", "enlightenment" or "kundalini" are hyperlinked to archives further explaining the term. At the corresponding archive you will also find articles related to the term.