Single premium

life insurance premium to be paid once for the whole period of coverage; it is applied e.g. with unit-linked products.

Substandard premium

The premium defined for substandard risk, i.e. a higher one than the one assumed at the moment of calculating the average premium; it is applied most frequently in case of life insurance for persons whose risk of death or illness or accident is higher than average for the persons of given sex and age in the given population.


the detailed terms of the agreement attachment to the insurance or reinsurance contract.

Solvency margin coverage

Statutory indicator of the level of capital protection activities conducted by the insurer; statutory rate should be higher than 100 percent, but this is the satisfactory level. It is generally accepted that capital is well secured when the index value exceeds 200 percent.

Subject matter of insurance (property insurance)

any property-related business that is not contrary to law and can be evaluated in monetary terms.