This collection is the full dictionary: the terms of funeral expense insurance in alphabetical order, each with a plain explanation. For a quick search, you can also use the magnifying-glass button in the header — the terms are linked there too.
- The terms follow each other in alphabetical order — each with a short, plain-language explanation.
- Links to related articles lead to deeper detail.
- The shorter, introductory version is in the 15 basic terms article.
A–D
Accidental death: death that occurs suddenly, from an external cause – cover for it typically applies from the first day, and with several products at an increased sum. Entry age: the age range within which the policy can be taken out; for funeral products, the upper limit is typically quite high. Sum insured: the fixed amount set out in the policy, payable on death. Insured (person): the person whose life the cover concerns. Insured event: the event – here, the insured's death – that triggers the benefit. Premium payment term: the period during which premiums must be paid; once it ends, cover typically continues on a premium-free basis. Paid-up reduction: ending premium payments so that the policy continues for life at a reduced sum. Premium payment break: with some products, a temporary break can be requested – what happens to cover during the break varies by product; the policy conditions say whether it pauses.
E–K
Health declaration: a short questionnaire completed when taking out the policy – many funeral products don't have one at all; where one exists, the payout may be limited for an early death connected with a named condition. Right of withdrawal (30-day cancellation right): the right to cancel in writing, without giving a reason, within 30 days of receiving notification that the contract has come into existence – typically the policy document; the insurer then accounts for the premium paid. Indexation: the annual adjustment of the sum, and typically the premium, in line with prices – automatic or offered as an option. Estate: the deceased's assets, settled through probate; the insurance payout to the named beneficiary is typically not part of it. Death certificate: the official registry confirmation of the death – the basic document for filing a claim. Beneficiary: the person to whom the insurer pays the benefit; naming one is the most important setting in the policy. Commencement of cover: the day from which the insurer bears the risk – typically tied to the first premium. Policy: the document confirming that the contract has come into existence.
L–S
Non-forfeiture options: the policyholder's rights when premium payment stops or the policy is terminated – typically paid-up reduction, and with some products, surrender. Exemption of the insurer (mentesülés): the case when the insurer is released from paying for a reason set out in the terms – typically suicide or intent within the first period after the policy is taken out. Grace period: the deadline, set in the insurer's written demand for payment, for settling an overdue premium – 30 days under the Hungarian Civil Code (Ptk.); the policy conditions may also allow a longer grace period. Reactivation (reinstatement): restoring a lapsed policy within a set time by paying the missed premiums. Graded benefit: the benefit for death from illness that rises in steps over the first year or two – this varies by product. Policyholder: the person who takes out the policy, pays the premium, and has the right to make decisions about it. Claim: reporting the death and requesting payment.
T–V
Funeral-arrangement benefit (in kind): with some products, a benefit in kind can be chosen instead of a cash payout – the insurer settles directly with the funeral service provider. Accelerated payout for terminal illness: with some products, a significant part of the sum insured can be requested while the insured is still alive, in the case of a serious, terminal illness. Surplus-yield credit: with reserve-based products, the crediting of a set share of the yield earned on the reserve. Waiting period: the period after the commencement of cover – typically six months – during which the benefit is limited for death from illness; it does not apply to accidents. Surrender: ending the policy with a payout – many funeral products don't offer this; where it exists, it is partial, per the terms. Detailed explanations: waiting period, surrender, indexation.
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