Every insurance word, in plain English

The terms that hide in your policy, defined without the jargon — with the French equivalent for each. Hover any highlighted term across the site to see its definition.

131 terms across life, disability, critical illness, home, auto, travel, group benefits, claims and tax. French terms are seed translations for the upcoming bilingual site.

General & contract

Actual cash value (ACV)(Fr : Valeur au jour du sinistre): Replacement cost minus depreciation.
Beneficiary(Fr : Bénéficiaire): The person or entity who receives the payout.
Cash surrender value(Fr : Valeur de rachat): The amount a permanent life policy pays if you cancel it.
Claim(Fr : Réclamation / sinistre): A request for payment under your policy after a loss.claims
Coinsurance(Fr : Coassurance): A clause penalising under-insurance below a required percentage of value.
Contestability period(Fr : Délai de contestation): The early window (often two years) when an insurer can void a life policy for misrepresentation.
Coverage(Fr : Garantie / couverture): A specific protection the policy provides.
Deductible(Fr : Franchise): What you pay out of pocket on a claim before insurance pays the rest.deductible optimizer
Exclusion(Fr : Exclusion): Something the policy specifically will not cover.
Face amount(Fr : Capital assuré): The stated benefit a life policy pays on death.
Grace period(Fr : Délai de grâce): The window after a missed premium before the policy lapses.
Indemnity(Fr : Indemnité): Payment that restores you to your pre-loss position, no more.
Insured(Fr : Assuré): The person or thing the policy protects.
Insurer / underwriter(Fr : Assureur): The company that takes on the risk and pays claims.
Lapse(Fr : Déchéance / résiliation): When a policy ends because premiums were not paid.
Limit(Fr : Limite / montant de garantie): The most the policy will pay for a covered loss.
Named perils vs all-risk(Fr : Risques désignés / tous risques): Named-perils covers only listed causes; all-risk covers everything except stated exclusions.
Peril(Fr : Risque / péril): A cause of loss (fire, theft, wind).
Policy(Fr : Police): The contract between you and the insurer setting out what is covered.
Premium(Fr : Prime): The amount you pay for coverage, monthly or annually.
Reinstatement(Fr : Remise en vigueur): Restoring a lapsed policy, often with conditions.
Renewal(Fr : Renouvellement): Continuing a policy for another term, sometimes with new pricing.
Replacement cost(Fr : Valeur à neuf): The cost to replace with new, without depreciation.
Rider / endorsement(Fr : Avenant): An add-on that changes or extends a policy's coverage.
Sub-limit(Fr : Sous-limite): A smaller cap on a specific category within the overall limit (e.g. jewellery inside a home policy).
Subrogation(Fr : Subrogation): The insurer's right to recover its payout from a responsible third party.
Underwriting(Fr : Tarification / souscription): How an insurer assesses your risk to decide whether and at what price to cover you.guides/insurability and underwriting
Waiting / elimination period(Fr : Délai de carence): The time after a loss before benefits begin.disability gap
Waiver of premium(Fr : Exonération de prime): A rider that keeps a policy in force without premiums if you become disabled.

Life insurance

Accelerated death benefit(Fr : Prestation anticipée de décès): Early access to part of a death benefit if you are terminally ill.
Convertible term(Fr : Temporaire transformable): Term you can convert to permanent coverage later without new medical underwriting.
DIME method(Fr : Méthode DIME): A needs estimate: Debt + Income + Mortgage + Education.life insurance needs
Guaranteed insurability rider(Fr : Garantie d'assurabilité): Lets you buy more coverage later without re-qualifying medically.
Human capital(Fr : Capital humain): The present value of your future earnings, used as an upper-bound needs estimate.life insurance needs
Level premium(Fr : Prime nivelée): A premium that stays constant over the term.
Mortgage life / creditor insurance(Fr : Assurance prêt hypothécaire / assurance crédit): Lender-sold coverage that pays your loan balance; a declining benefit at a level premium.mortgage insurance
Participating policy(Fr : Police avec participation): A permanent policy that may pay dividends.
Permanent life insurance(Fr : Assurance vie permanente): Any life policy meant to last your whole life.
Renewable term(Fr : Temporaire renouvelable): Term that renews without a new medical, at a higher age-based premium.
Segregated fund(Fr : Fonds distinct): An insurance investment with maturity/death guarantees, protected within Assuris limits.
Term ladder(Fr : Échelonnement de temporaires): Stacking terms of different lengths to match a falling need.term ladder
Term life insurance(Fr : Assurance vie temporaire): Coverage for a set number of years; pays only if you die during the term.life insurance needs
Universal life insurance(Fr : Assurance vie universelle): Permanent coverage combining insurance with an investment component.
Whole life insurance(Fr : Assurance vie entière): Permanent coverage with a cash value that grows.guides/term vs whole life

Disability & income protection

Any-occupation(Fr : Toute profession): Pays only if you cannot do any job you are reasonably suited to; a harder test than own-occupation.disability gap
Benefit period(Fr : Période de prestations): How long a disability benefit will pay (e.g. to age 65).
Cost-of-living adjustment (COLA)(Fr : Indexation): A rider that grows your benefit with inflation.
CPP Disability (CPP-D)(Fr : Prestation d'invalidité du RPC): Federal disability benefit for those with enough CPP contributions and a severe, prolonged disability.disability gap
EI sickness benefits(Fr : Prestations de maladie de l'assurance-emploi): Up to 26 weeks of federal benefits when you cannot work due to illness.disability gap
Future income option(Fr : Option de revenu futur): Lets you increase DI coverage as your income grows, without new medicals.
Long-term disability (LTD)(Fr : Invalidité de longue durée (ILD)): Income replacement for extended disability, usually a work benefit.disability gap
Non-cancellable / guaranteed renewable(Fr : Non résiliable / renouvellement garanti): Personal DI features protecting your rate and coverage.
Offset / integration(Fr : Coordination / réduction): When one benefit (e.g. group LTD) is reduced by another (e.g. CPP-D).disability gap
Own-occupation(Fr : Profession habituelle): A disability definition that pays if you cannot perform the material duties of your own occupation — often switches to any-occupation after a set period.disability gap
Replacement ratio(Fr : Taux de remplacement): The share of your income a benefit replaces.disability gap
Residual / partial disability(Fr : Invalidité résiduelle / partielle): Benefits when you can work partially but earn less.
Short-term disability (STD)(Fr : Invalidité de courte durée (ICD)): Income replacement for the first weeks or months of disability.

Critical illness & health benefits

Coordination of benefits(Fr : Coordination des prestations): Rules for splitting a claim across two plans (e.g. two spouses' benefits).
Covered conditions(Fr : Maladies couvertes): The listed illnesses that trigger a CI payout, each precisely defined.critical illness
Critical illness insurance (CI)(Fr : Assurance maladies graves): A tax-free lump sum on diagnosis of a covered condition.critical illness
Drug formulary(Fr : Formulaire / liste de médicaments): The list of drugs a plan covers.
Extended health benefits(Fr : Assurance maladie complémentaire): Coverage for drugs, dental, paramedical, and vision beyond medicare.
Health spending account (HSA)(Fr : Compte de gestion-santé): An employer account for eligible health expenses.
Loss of independent existence(Fr : Perte d'autonomie): A CI trigger based on inability to perform daily activities.
Paramedical coverage(Fr : Soins paramédicaux): Physio, massage, psychology, and similar practitioners.
Return of premium(Fr : Remboursement des primes): A rider refunding premiums if you never claim.
Survival period(Fr : Période de survie): The days you must survive after diagnosis for CI to pay (often 30).

Group & workplace benefits

Conversion privilege(Fr : Privilège de transformation): The right to convert group life to an individual policy on leaving, without a medical.
Evidence of insurability (EOI)(Fr : Preuve d'assurabilité): Medical information required for higher coverage.
Flex benefits(Fr : Régime flexible): A plan letting you allocate credits across coverage options.
Group benefits(Fr : Régime collectif): Insurance provided through an employer or association.guides/how group benefits work
Non-evidence maximum (NEM)(Fr : Maximum sans preuve): The coverage you get without a medical; above it, evidence of insurability is required.
Portability(Fr : Transférabilité): Whether coverage continues after you leave the employer (usually limited).
Taxable benefit(Fr : Avantage imposable): Employer-paid coverage that counts as income to you (drives LTD taxability).disability gap

Home & property

Additional living expenses (ALE)(Fr : Frais de subsistance supplémentaires): Pays extra living costs if a loss makes your home uninhabitable.
Condo unit-owner policy(Fr : Assurance copropriétaire): Covers a condo owner's unit improvements, contents, liability, and assessments.guides/condo insurance
Contents / personal property(Fr : Biens meubles): Covers your belongings.
Deductible chargeback / assessment(Fr : Refacturation de franchise): When a condo corporation charges a unit owner its (often large) deductible.
Dwelling coverage(Fr : Garantie du bâtiment): Covers the structure of your home.guides/home insurance gaps
Earthquake endorsement(Fr : Garantie tremblement de terre): Separate coverage for seismic damage (relevant in BC and the St. Lawrence region).guides/home insurance gaps
Guaranteed replacement cost(Fr : Valeur à neuf garantie): Rebuilds your home even if the cost exceeds the policy limit.
Home business endorsement(Fr : Avenant entreprise à domicile): Extends coverage for business activity a standard policy would exclude.
Homeowner policy(Fr : Assurance habitation): Coverage for your dwelling, contents, and liability.guides/home insurance gaps
Loss assessment(Fr : Cotisation spéciale / quote-part): Covers your share when a condo corporation's insurance falls short.guides/condo insurance
Mortgagee clause(Fr : Clause hypothécaire): Names your lender's interest on the policy.
Overland flood(Fr : Inondation / débordement d'eau): Water entering from overflowing bodies of water; a separate endorsement.guides/home insurance gaps
Personal liability(Fr : Responsabilité civile): Covers you if you are liable for injury or damage to others.
Rebuild cost vs market value(Fr : Coût de reconstruction vs valeur marchande): What it costs to rebuild vs what the property would sell for; insurance uses rebuild cost.
Sewer backup(Fr : Refoulement d'égout): Water backing up through drains; optional coverage, often capped.guides/home insurance gaps
Standard unit / betterments(Fr : Unité standard / améliorations): The line between what the corporation insures and what you insure.
Tenant / renter insurance(Fr : Assurance des locataires): Covers a renter's belongings and liability.guides/tenant insurance
Umbrella / excess liability(Fr : Assurance parapluie / responsabilité complémentaire): Extra liability limits above your home and auto policies.guides/umbrella liability

Auto

Accident benefits (AB)(Fr : Indemnités d'accident): No-fault benefits for your own injuries, regardless of blame.auto insurance
Collision coverage(Fr : Garantie collision): Pays for your vehicle's crash damage.
Comprehensive coverage(Fr : Garantie tous risques (véhicule)): Covers non-collision damage: theft, fire, hail, vandalism.
Direct compensation – property damage (DCPD)(Fr : Indemnisation directe): Your own insurer pays for damage when another driver is at fault.
Facility Association(Fr : Facility Association): The insurer of last resort for high-risk drivers in private-market provinces.
No-fault insurance(Fr : Assurance sans égard à la responsabilité): Your own insurer pays your injury/damage claims regardless of fault.auto insurance
OAP 1 (Ontario Automobile Policy)(Fr : Police d'assurance automobile): Ontario's standard auto policy form.
Public auto insurer(Fr : Assureur public): A government insurer (ICBC, SGI, MPI, SAAQ).auto insurance
Statutory minimum liability(Fr : Minimum légal de responsabilité): The least third-party liability the law requires.auto insurance
Third-party liability(Fr : Responsabilité civile): Covers injury or damage you cause to others.auto insurance
Tort system(Fr : Régime de responsabilité délictuelle): You can sue an at-fault driver for damages.
Uninsured/underinsured motorist(Fr : Automobiliste non assuré / sous-assuré): Protects you against drivers with no or too little coverage.

Travel & out-of-country

Pre-existing condition(Fr : Condition préexistante): A health condition you had before the trip or policy.travel medical
Provincial residency requirement(Fr : Exigence de résidence): Minimum days in-province to keep provincial health coverage.travel medical
Repatriation(Fr : Rapatriement): Bringing you (or your remains) back to Canada; a required super visa coverage.
Stability clause / stability period(Fr : Clause de stabilité): Requires a pre-existing condition to be unchanged for a set period before departure.travel medical
Super visa insurance(Fr : Assurance super visa): Medical coverage (min. $100,000, one year) required for the parent/grandparent super visa.guides/super visa insurance
Travel medical insurance(Fr : Assurance médicale de voyage): Emergency medical coverage outside your province.travel medical
Trip cancellation/interruption(Fr : Annulation / interruption de voyage): Reimburses non-refundable trip costs for covered reasons.

Claims, regulators & protection

Adjuster(Fr : Expert en sinistres): The person who assesses your claim.claims
Assuris(Fr : Assuris): Industry-funded protection for Canadian life and health policyholders if a member insurer fails. Limits apply by benefit class.guides/assuris pacicc
Bad faith(Fr : Mauvaise foi): An insurer unreasonably denying or delaying a valid claim.
FSRA / AMF / regulator(Fr : Organisme de réglementation): The provincial body overseeing insurers and handling complaints.auto insurance
General Insurance OmbudService (GIO)(Fr : Service de conciliation en assurance de dommages): Independent dispute resolution for home, auto, and business insurance.claims
Limitation period(Fr : Délai de prescription): The legal deadline to sue on a claim.claims
Material misrepresentation(Fr : Fausse déclaration importante): A false or omitted fact that could void coverage.
OmbudService for Life & Health Insurance (OLHI)(Fr : OmbudService de l'assurance de personnes): Free, independent dispute resolution for life and health insurance.claims
PACICC(Fr : SIMA): Property & casualty compensation if a home/auto insurer fails.guides/assuris pacicc
Proof of loss(Fr : Preuve de sinistre): The formal statement documenting your claim.claims
Utmost good faith(Fr : Bonne foi absolue): The mutual duty of honesty between you and the insurer.

Tax, estate & beneficiary

Capital dividend account (CDA)(Fr : Compte de dividendes en capital): Lets a corporation pay life insurance proceeds to shareholders tax-free.guides/corporate owned life insurance
Contingent beneficiary(Fr : Bénéficiaire subrogé): The backup if the primary beneficiary predeceases you.
Corporate-owned life insurance(Fr : Assurance vie détenue par une société): A policy owned by a corporation, with distinct tax treatment.guides/corporate owned life insurance
Estate as beneficiary(Fr : Succession bénéficiaire): Proceeds paid to your estate, exposed to probate and creditors.guides/beneficiary designations
Genetic Non-Discrimination Act(Fr : Loi sur la non-discrimination génétique): Federal law barring insurers from requiring or using your genetic test results.guides/insurability and underwriting
Irrevocable beneficiary(Fr : Bénéficiaire irrévocable): One who must consent to policy changes.
MIB (Medical Information Bureau)(Fr : Bureau d'information médicale): A shared database insurers use during underwriting.guides/insurability and underwriting
Named beneficiary(Fr : Bénéficiaire désigné): A specifically named recipient; proceeds bypass probate.guides/beneficiary designations
Probate(Fr : Homologation / vérification): The court process validating a will; can delay and cost the estate.guides/beneficiary designations