| WORD | DESCRIPTION |
| Grace Period | Period of time after the due date of a premium, during which the policy remains in force without penalty. |
| Graded Premium Policy | A type of whole life policy designed for people who want more life coverage than they can currently afford. They pay a lower premium rate that increases gradually over the first three to five years and then remain constant over the life of the policy. |
| Guaranteed Addition | Guaranteed additions are calculated at a rate per every thousand of sum assured. They are added to the basic sum assured and are payable on admittance of claim. |
| Guaranteed Insurability (guaranteed issue) | Arrangement, usually provided by rider, whereby additional insurance may be purchased at various times without evidence of insurability. |
| Guaranteed Insurance Sum (GIS) | The sum due to the nominee that is equal to the purchase price along with the final Jeevan Akshay policy bonus. |
| Guaranteed Term | A form of renewable term insurance that remains in force as long as the premiums are paid on time. With guaranteed term insurance, the insurance company cannot terminate the policy during the term. |
