Insurance Glossary

Insurance Glossary

Glossary Table for Insurance Terminology (as of April 2023) :

In order to comply with the insurance regulation, the new insurance terminologies will be applicable to policy provisions, insurance proposals, product brochures and other relevant policy documents and correspondences. The below “Glossary Table for Insurance Terminology” provides you with a mapping of the related terminologies and its new terminologies. You may refer to the applicable terminologies in policy provision for mapping.


Since the original meanings of the terminologies are remaining unchanged, the terminology changes do not change and impact your policy as well as the benefits and terms and conditions.

Glossary Table for Insurance Terminology


New Terminologies


Corresponding Terminologies


also known as

Guaranteed Annuity Payment

Guaranteed Cash Payment

Cash Payment

Guaranteed Cash Value

Cash Value

Protection Amount

Benefit Amount

Sum Assured

Face Amount / Sum Insured / Maturity Benefit / Guaranteed Maturity Benefit / Base Annual Premium / Initial Guaranteed Monthly Income / Guaranteed Monthly Annuity Payment / Notional Amount

Terminal Dividend

Special Dividend / Maturity Dividend