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Glossary

Explanations of some of some of our financial terms

Glossary

Use this glossary of common – and not so common – insurance terms to help you understand words and phrases you may not have come across before.

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  • Parallel import

    Found in: Car Insurance

    Parallel imports are vehicles imported and sold within the UK by the manufacturer, usually at a higher price than a standard model. See Grey import.

  • Parkinson's disease

    Found in: Life Insurance

    A progressive, degenerative disorder of the central nervous systems which mainly affects movement but can also lead to behavioural problems and dementia.

  • Partner or domestic partner

    Found in: Car Insurance, Home Insurance, Travel Insurance, Life Insurance

    A partner is your husband, wife, civil partner or someone you're living with as if you're married to them.

  • Pass Plus

    Found in: Car Insurance

    Pass Plus is a training course aimed at new drivers that aims to build on your driving skills and make you a safer driver.

  • Passengers

    Found in: Car Insurance

    Passengers are the occupants of a vehicle (excluding hitchhikers).

  • Penalty points

    Found in: Car Insurance

    Penalty points are points added to your driving licence if you're convicted of a driving offence. Your insurance premium may be affected if you get points on your licence; and you need to let us know if you have or get points on your licence.

  • Period of insurance

    Found in: Travel Insurance

    For single trip cover - The period of insurance for all sections, other than cancellation, starts at the beginning of your journey and finishes at the end of your journey. Cancellation cover begins from the start date shown on your policy schedule and ends at the beginning of your journey.

    For annual multi-trip cover - The period of insurance for all sections, other than cancellation, starts at the beginning of your journey and finishes at the end of your journey. Cancellation cover begins on the start date shown on your policy schedule or the date you booked your journey, whichever is the later, and ends at the beginning of your journey.

    For single trip and annual multi-trip cover - The period of insurance ends on the end date shown on your policy schedule, unless you can't finish your journey as planned because of death, injury or illness or there's an unavoidable delay to the public transport system. In these circumstances, we'll extend cover free of charge until you can reasonably finish that journey.

  • Personal accident benefit

    Found in: Car Insurance

    Personal accident benefit is a policy or a feature of a policy that pays a specified sum if you're injured in an accident. The payout may be weekly, for a set period, or a lump sum.

  • Personal accident cover

    Found in: Travel Insurance

    Personal accident cover insures you against certain accidents resulting in the loss of sight, loss of limbs or or total permanent disablement.

  • Personal possessions cover

    Found in: Travel Insurance

    Personal possessions cover insures you against theft, damage to or loss of your personal effects during a holiday / trip. Personal possessions cover is usually an optional extra selection. It covers each of your suitcases, trunks and similar containers (including their possessions contents) and items you wear or carry that are taken on, or purchased during, a trip by you (including your valuables).

  • Personal possessions, personal effects, personal belongings

    Found in: Home Insurance

    Personal possessions cover is usually an optional extra on the contents insurance policy.

  • Pet

    Found in: Pet Insurance

    Pet means the dog or cat specified in your Pet Insurance Schedule and Statement.

  • Pet Travel Scheme (PETS)

    Found in: Pet Insurance

    The Pet Travel Scheme (PETS) is the Government scheme allowing you to take your pet abroad to certain specified countries and re-enter the United Kingdom without the need for your pet to go into quarantine, provided certain criteria have been adhered to.

  • Phishing

    Found in: Home Insurance

    Phishing is a technique used to trick you into giving your personal details, this might be through bogus websites, web-forms emails, and documents, which will often disguise themselves to look genuine; risk of identity theft.

  • Plan

    Found in: Life Insurance

    Your plan is a formal, legally-binding contract of insurance that includes the terms of your cover.

  • Plan anniversary

    Found in: Life Insurance

    Plan anniversary is each 12 month anniversary of the start date of your plan.

  • Plan conditions

    Found in: Life Insurance

    Plan conditions show the details of what your plan covers, what it doesn't cover, and when and how you can claim.

  • Plan owner

    Found in: Life Insurance

    The plan owner is the legal owner of the plan, and the person legally entitled to the benefits from it in the event of a claim.

  • Policy

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance, Life Insurance

    Your policy is a formal, legally-binding contract of insurance that includes the terms of your cover.

  • Policy term

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance, Life Insurance

    The policy term is how long the policy runs; in other words, the period you're covered for.

  • Policyholder or Policy owner

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance, Life Insurance

    The policyholder or policy owner is the legal owner of the policy, and the person legally entitled to the benefits from it in the event of a claim. They are the main/lead person named on the policy schedule.

  • Pre-existing condition

    Found in: Pet Insurance

    A pre-existing condition is a condition or symptom or sign of injury, illness or disease that occurred or existed in any form prior to the start date of the insurance for your pet.

  • Pre-existing medical condition

    Found in: Life Insurance

    A pre-existing medical condition is an illness or medical condition that's already been diagnosed when you apply for cover.

  • Premier pet insurance

    Found in: Pet Insurance

    Premier pet insurance is our comprehensive level of cover for our pet insurance policy.

  • Premium

    Found in: Car Insurance, Home Insurance, Life Insurance, Pet Insurance, Travel Insurance

    A premium is the amount you pay for your plan or policy. The frequency depends on the type of cover that you have, and could be monthly instalments, a single 'one-off' payment, three-monthly, six-monthly or yearly.

  • Primary pulmonary hypertension

    Found in: Life Insurance

    An increase in blood pressure in the pulmonary (lung) artery or vein.

  • Probate

    Found in: Life Insurance

    When a person dies, somebody has to deal with their estate (money, property and possessions left) by collecting all the money, paying any debts and distributing what is left to the people entitled to it.

    Probate is the court's authority, given to a person or persons to administer a deceased person's estate.

  • Progressive supranuclear palsy

    Found in: Life Insurance

    A rare, degenerative brain disease which involves gradual deterioration of death of certain areas of the brain.

  • Recurring conditions

    Found in: Pet Insurance

    Recurring conditions are conditions that may come back or that your pet is prone or susceptible to. These will be treated as one condition.

  • Registered keeper

    Found in: Car Insurance

    The registered keeper of a vehicle is the person recorded by the DVLA as being liable for the licensing of the vehicle and declaring it off the public road (SORN) and the person the police would contact about motoring and parking offences. The registered keeper is not necessarily the legal owner of the vehicle.

  • Relative

    Found in: Travel Insurance

    A relative is your mother (in-law), father (in-law), step parent (in-law), legal guardian, sister (in-law), brother (in-law), wife, husband, son (in-law), daughter (in-law), step child, foster/adopted child, grandparent, great grandparent, grandchild, great grandchild, uncle, aunt, nephew, niece, cousin, partner (including common law and civil partner) or fiance(e).

  • Renewal date

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance

    A renewal date is the date that your policy will end unless you renew your policy and pay the appropriate premium to continue with the cover.

  • Renewal notice

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance

    A renewal notice is a letter we send to you at least 21 days before your annual policy is up for renewal and due to expire.

  • Retail Prices Index (RPI)

    Found in: Home Insurance

    The Retail Prices Index is a general purpose domestic measure of inflation in the UK.

  • Risk

    Found in: Home Insurance, Car Insurance

    The peril or danger you want to insure against.

  • Roadside assistance

    Found in: Car Insurance

    See Breakdown insurance.

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