Glossary
A plain-English guide to common insurance terms, aligned to our product subcategories.
Tables are wide — swipe sideways within a table to see every column.
| # | Relevant To | Term | Meaning |
|---|---|---|---|
| 1 | Accident | Personal Accident (PA) | Insurance covering specified consequences of accidental injury, potentially including accidental death, disability, loss of limbs and medical expenses. |
| 2 | Accident; Critical Illness; Health; Life | Rider | Additional insurance coverage attached to a main policy. For example, health or accident protection may be added to certain life policies. |
| 3 | Accident; Critical Illness; Life | Lump-sum Benefit | A predetermined cash amount paid when a covered event occurs, rather than reimbursement of the exact medical bill. |
| 4 | Accident; Critical Illness; Life | Total Permanent Disability (TPD) | A condition in which the insured is permanently unable to work or perform basic daily activities, typically as a result of injury or illness, and which qualifies for a specified policy benefit. |
| 5 | Critical Illness | Carcinoma in Situ | An early stage of cancer in which abnormal cells are present but have not spread beyond their original location, often covered at a reduced benefit level under critical-illness policies. |
| 6 | Group | Group Insurance | One insurance arrangement covering a defined group of people, commonly employees or members, rather than separate individual policies. |
| 7 | Health | Actual Expenses | Eligible medical costs are reimbursed based on the expenses actually incurred, subject to policy limits, exclusions and conditions. |
| 8 | Health | Annual Limit | The maximum amount the health policy will pay during a policy year. |
| 9 | Health | IPD - Inpatient | Treatment where the patient is admitted to hospital, typically involving an overnight stay or qualifying inpatient procedure. |
| 10 | Health | Network Hospital | A hospital participating in an insurer's recognised healthcare-provider network. |
| 11 | Health | No Co-payment | Eligible expenses are not subject to a specified co-payment requirement, although other policy limits and conditions still apply. |
| 12 | Health | OPD - Outpatient | Medical treatment where the patient visits a hospital or clinic but is not admitted as an inpatient. This can include consultations, medication and outpatient tests. |
| 13 | Health | Per-claim / Per-illness Limit | The maximum benefit available for an individual claim, illness or treatment episode, depending on the policy wording. |
| 14 | Health | Room & Board Limit | The maximum covered cost of a hospital room and related accommodation, commonly expressed as an amount per day. |
| 15 | Health; Income Protection | Income Compensation / Hospital Cash | A fixed cash benefit paid for qualifying hospitalisation. It can help with lost income and other expenses rather than simply reimbursing medical bills. |
| 16 | Health; Motor; Property; Travel | Deductible / Excess | An amount the insured must pay themselves before insurance starts paying eligible expenses, subject to the policy terms. |
| 17 | Health; Travel | Geographic Coverage / Area of Cover | The countries or regions in which insurance coverage applies, such as Thailand only, worldwide excluding the USA, or worldwide. |
| 18 | Investment; Life | Unit-Linked | A life-insurance structure combining insurance protection with investment in funds. The investment value can rise or fall. |
| 19 | Investment; Savings | Index-Linked (Returns) | A return structure under which a policy's investment performance is tied to the performance of a specified market index, rather than to individual selected funds. |
| 20 | Life | Beneficiary | The person or people designated to receive a policy benefit, particularly a life-insurance death benefit. |
| 21 | Life | Preferred Health | An underwriting classification for applicants assessed as being in better-than-standard health, which may qualify them for a reduced premium. |
| 22 | Life | Life Cover / Sum Assured | The insured amount payable under a life policy when the relevant insured event occurs, most importantly death, subject to the contract. |
| 23 | Life; Retirement | Pension / Retirement Insurance | Insurance structured to provide benefits during retirement while generally also providing life protection. |
| 24 | Life; Retirement | Annuity | A regular series of payments made to the policyholder, typically after retirement, in exchange for a lump sum or accumulated premiums paid earlier. |
| 25 | Life; Savings | Endowment / Savings Insurance | Life insurance designed to combine protection with structured savings and/or maturity benefits. |
| 26 | Life; Savings | Surrender Value | The amount payable to the policyholder if a policy is voluntarily terminated before maturity, generally lower than the total premiums paid, especially in early policy years. |
| 27 | Life; Wealth / Legacy | Wealth / Legacy | Life-insurance-based financial planning intended to preserve or transfer wealth to beneficiaries or future generations. |
| 28 | Motor | Compulsory Motor Insurance (Por Ror Bor / พ.ร.บ.) | Mandatory Thai motor insurance providing statutory protection for people injured or killed in road accidents. |
| 29 | Motor; Property | Third-party Liability | Cover for legal liability for qualifying injury or property damage caused to another person. |
| 30 | Travel | Schengen Cover | Travel medical insurance designed to satisfy applicable insurance requirements for a Schengen visa. |
| Universal terms — apply across every category | |||
| 31 | ALL SUBCATEGORIES | Coverage Limit | The maximum amount payable under a policy or particular benefit. Different limits may apply to different benefits. |
| 32 | ALL SUBCATEGORIES | Premium | The amount paid for insurance coverage. Premiums may be monthly, annual, single-premium or payable for a specified number of years. |
Downloads
Form W-9 Guide
A step-by-step guide for US citizen policyholders completing Form W-9, with an annotated example.
PDF · 1.6 MB