Glossary
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Facultative reinsurance Reinsurance is considered on case-by-case basis.
Fiscal PolicyIt relates to the spending and tax initiatives of the government and it drives the national economy.
Flexible Premium AnnuityA deferred annuity for which the contract owner pays periodic premiums that may vary between a set minimum and a set maximum amount. The contract owner may also elect not to make any premium payment in any given period.
Floating Rate BondsThese bonds pay an interest rate that is linked to a benchmark such as treasury bill rates.
Fortuitous loss Unforeseen & unexpected loss that occurs as a result of chance.
ForwardsA tailor-made contract wher terms are negotiated between the buyer and seller
Franchise deductible Only if the stated amount of loss shown as deductible is exceeded, the insurer pays the full loss.
Fund of fund schemesWhere investments are made in MF schemes instead of stocks or bonds
Fundamental risk that affects the entire economy of the nation.
Future ContractsAn agreement between 2 parties to exchange an asset for cash at a prefixed future date for a price that is specified today represents a forward contract. A futures contract is a standardised forward contract.