| WORD | DESCRIPTION |
| Occupational Hazard | A condition in an occupation that increases the peril of accident, sickness, or death. It usually will mean higher premiums. |
| Offer and Acceptance | The offer may be made by the applicants signing the application, paying the first premium and, if necessary, submitting to physical examination. Policy issuance, as applied for, constitutes acceptance by the company. or the offer may be made by the company when no premium payments is submitted with the application. Premium payments on the offered policy then constitutes acceptance by the applicant. |
| Original Age | The age you were when you bought the policy. |
| Outstanding balance on loans | It is the unpaid balance on a loan taken by a policyholder. |
| Outstanding debt | Outstanding debt is the amount due by a policyholder towards his creditors or lenders |
| Ownership | All rights, benefits and privileges under life insurance policies are controlled by their owners. Policy owners may or may not be the insured. Ownership may be assigned or transferred by written request by written request of current owner |
