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

Face Amount:
The amount stated on the face of the insurance policy that will be paid in case of death or at maturity. It does not include dividend additions or additional amounts payable under accidental death or other special provisions. 

Facultative Reinsurance:
Reinsurance negotiated on an individual issue-by-issue basis rather than on a treaty basis. 

Family Policy:
A life insurance policy providing insurance on all or several family members in one contract, generally whole life insurance on the principal breadwinner and small amounts of term insurance on the other spouse and children, including those born after the policy is issued. 

FASB:
Financial Accounting Standards Board

FICO Score:
Scores in a credit scoring system developed by Fair, Isaac & Co. (FICO) for potential mortgage borrowers. FICO scores are an industry standard and are supplemented by proprietary scoring systems developed by most mortgage insurers. The scores are used to assist lenders and insurers in determining whether or not to extend credit or provide insurance, not to raise or lower interest charges or premium (see risk-based pricing).

Financial Intermediation:
The use of debt to finance investment in high-quality assets in the transaction; both the investments and supporting debt are duration matched and cash flow matched.

Financial Leverage:
The ratio of debt and debt-like instruments to capitalization 

FIRREA:
Financial institutions reform, recovery and enforcement act of 1989

Fixed Charge Coverage:
The ratio of the sum of pretax operating income plus interest expense to interest expense.

Fixed-Income Assets:
Bonds, preferred stock, mortgage loans on real estate, and policy loans. 

Flat Schedule:
A type of group insurance schedule under which everyone is insured for the same benefits regardless of salary, position, or other circumstances. 

Flexible Premium Deferred Annuity:
An annuity contract that permits varying premium payments from year to year and is often used for individual retirement accounts. 

Flexible Premium Policy or Annuity:
A life insurance policy or annuity under which the policyholder or contract holder may vary the amounts or timing of premium payments.

Flexible Premium Variable Life Insurance:
A life insurance policy that combines the premium flexibility feature of universal life insurance with the equity-based benefit feature of variable life insurance.

Flood Insurance:
A regular homeowner’s policy will not pay for damages caused by flooding. In order to get the coverage, you’ll have to go to some outfit that writes for the National Flood Insurance Program. Outside of fire, flooding is the most widespread natural disaster. If your community participates in NFIP’s floodplain management program, you should be eligible to buy the coverage. The only people who may have trouble finding flood coverage are residents of "coastal barrier resource system" areas and communities that do not participate in NFIP’s programs. Flood insurance is also available to renters, condominium owners, and co-op owners.

Franchise Insurance:
Insurance contracts issued to members of a specific group (such as employees of a common employer or members of an association) under a group-like arrangement in which the employer or the association collects and remits premiums.

Fraternal Life Insurance:
Life insurance provided by fraternal orders or societies to their members.

Frequency:
The number of mortgages in a class that go to claim over a given period of time divided by the total original number of mortgages in that class. 

FSR:
Financial Strength Rating