A-B-C-D-E-F-G-H-I-J-K-L-M-N-O-P-Q-R-S-T-U-V-W-X-Y-Z

Beneficiary:
The person or financial instrument (for example, a trust fund), named in the policy as the recipient of insurance money in the event of the policyholder's death. 

Benefit:
Amount payable by the insurance company to a claimant, assignee, or beneficiary when the insured suffers a loss. 

Binding Receipt:
A receipt given for the payment which accompanies an application for insurance. If the policy is approved, the payment "binds" the company to make the policy effective from date of receipt. 

Blanket Contract:
Contract for health insurance that coves a class of persons.  It is used for groups such as athletic teams and for employee travel. 

Blanket Medical Expense:
A provision that entitles the insured person to collect up to a maximum for all hospital and medical expenses, without limitations on specific types of medical expenses. 

Blue Cross:
Nonprofit corporation providing protection to its members against the cost of hospital care in a limited geographic area. 

Blue Shield:
Nonprofit corporation providing protection to its members against the cost of surgery and other items of medical care in a limited geographic area. 

Bond Portfolio Average Maturity:
A weighted average of the maturity distribution of long-term bonds owned at fiscal year-end. 

Business Insurance:
A policy that provides coverage to a business. It is often purchased to indemnify a business for the loss of services if a key employee (such as a partner) becomes disabled.

Broker:
A sales and service representative who handles insurance for clients, generally selling insurance of various kinds and for several companies. Brokers resemble agents, except for the fact that, in a legal sense, brokers represent the party seeking insurance rather than the insurance company. See Agent, Producer.