An acronym for Anti-lock Braking System.

Accelerated Benefits
A rider on a life insurance policy that allows you to receive early payment if the insured suffers form a terminal illness or injury.

Accidental Death and Dismemberment
A type of insurance policy that pays if the insured dies as a result of an accident or severs a limb above the ankle or wrist. Some policies pay if the insured permanently losses their eyesight.

Accidental Death Benefit
A rider on a life insurance policy that pays an additional sum in addition to the policy’s face value in the event the insured dies as the result of an accident. Sometimes referred to as double indemnity.

Actual Cash Value
A valuation method where the value of the amount of loss is set by the current replacement cost of the property, less depreciation.

An acronym for Actual Cash Value (see Actual Cash Value)

A person who is licensed by the state to represent an insurance company.

A document that outlines changes in an insurance policy. Sometime referred to as an endorsement.

A contract from an insurance company that guarantees you a series of regular payments for the rest of your life. An annuity has two distinct phases: The growth phase is the accumulation phase, while the payout phase is the annuity phase.

A form you must complete when applying for insurance coverage.

Anything that is owned.

A valuation of property by the estimate of an authorized person.