Insurance Terminology

An insurance contract with the insurer, provided to the policy owner.

Owner of an insurance policy.

A monthly, quarterly, or annual fee paid to the insurer and used to keep your insurance policy in force (current).

In certain circumstances an insurer may waive future premium payments whilst a claim is being paid.

The law requires insurers to include all the terms and conditions of the insurance product in a single document, known as the Product Disclosure Statement (PDS). Please ensure that you read this document carefully before buying insurance.