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ABBREVIATIONS used in Insurance industry

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									                                  ABBREVIATIONS used in Insurance industry
A. Plan          Annuity Plan
AA               Active Agent
AAP              Abstract Age Proof
AB               Accident Benefit
ACP              Advice of Commission Payment
ACR              Agent's Confidential Report
Act. V           Actuarial Valuation
ADO              Apprentice Development Officer
Adv. Sel.        Adverse Selection
AE               Aeronautical Extra
AFH              Adverse Family History
AGF              Approved Gratuity Fund
AH               Animal Husbandry
AH               Account Head
AL               Acceptance Letter
ALB, Age(l.b.)   Age Last Birthday
ANB, Age(n.b.)   Age Next Birthday
ANF              Automatic Non Forfeiture
Ann.             Annuitant
Ann. C           Annuity Certain
Ann. Def.        Annuity Deferred
Ann. Imd.        Annuity Immediate
Anniv.           Anniversary
AO               Audit Objection / Administrative Officer
AOA              Any One Accident
AOR              Aceeptance at Ordinary Rate
AOY              Any One Year
AP               Acceptance of Proposal
AR               Agent's Report
AS               Account Suspense
ASCI             Advertising Standard Council of India
ASF              Approved Superannuation Fund
ASP              Approved as Proposed
ASS              After Sales Service
AY               Assessment Year
B. Sec.          Bank Security
BAC              Budget Advisory Committee
BB               Balance Book
BC               Birth Certificate
BD               Back Dated
Bd. D            Bad Debt
BE               Bank Endorsement
BF               Bereaved Family
BFA              Bonus Final Additional
BG               Bonus Guaranteed
BI               Bonus Interim
Bi D             Bio-data
BR               Business Rural
BS               Balance Sheet
BSE              Bombay Stock Exchange
BT               Breach of Trust
BUFL             Business under Female Life
BUMS             Business Under Medical Scheme
BUSSS            Business Under Salary Saving Scheme
BV               Bonus Vested
C O/S            Claim Outstanding
CA               Career Agent
                                                                             1
CAR            Contractors All Risks
CB             Conservation of Business
CBC            Complete Blood Count (Report)
CBDT           Central Board of Direct Taxes
CC             Claim Concession
CD             Claim Discounted
CDA Plan       Children's Deferred Assurance Plan
CE             Certificate of Existence
CG             Central Government
CI             Claim Intimated
CIF            Cost Insurance and Freight
CL             Check List
Comp. Auth.    Competent Authority
Cond. Ltt.     Condolence Letter
Conv. Allow.   Conveyance Allowance
CPA 1986       Consumer Protection Act 1986
CPM            Contractor's Plant and Machinery
CPU            Central Processing Unit
CR             Cash Receipt
CRB            Compound Reversionary Bonus
CT             Convertible Table
CTL            Constructive Total Loss
CTS            Credit and Thrift Society
CW             Claim Written-off
DA             Dearness Allowance
DAB            Double Accident Benefit
DB             Disability Benefit
DBNY           Department Bima Niwas Yojana
DC             Death Certificate
DED            Department Electronic Data
DF             Discharge Form
DFGM           Declaration Form of Good Health
DG&A           Department Group & Annuity
DG&S           Department Group & Superannuation
DL             Department Legal
DMF            Disclosure of Material Fact
DO             Divisional Office
DOB            Date of Birth
DOC            Date of Commencement
DOD            Date of Death
DoE            Department of Electronics
DOM            Date of Maturity
DOP            Date of Proposal
DP             Data Processing
DPT            Departmental Promotion Test
DR             Decreasing Risk
DRDA           District Rural Development Agency
DS             Decentralisation
DSE            Delhi Stock Exchange
EC             Employee's Contribution
ECG            Electrocardiogram
ECR            Exchange Control Regulations
ED             Elder's Declaration
EDB            Extended Disability Benefit
EDLIS          Employees Deposit Linked Insurance Scheme
EDP            Estate Duty Policy
EGP            Ex-Gratia Payment
EMI            Equated Monthly Instalment
                                                           2
EMR           Extra Mortality Rate
End.          Endorsement
Endow. Plan   Endowment Plan
Entrep.       Entrepreneur
EPDB          Extended Permanent Disability Benefit.
EoC           Encashment of Cheque
EQ            Educational Qualification
ESIC          Employees State Insurance Corporation
ESR           Erythrocyte Sedimentation Rate
EWS           Economically Weaker Sections
FA            Fatal Accident
FAB           Final Additional Bonus
FAU           Factor Affecting Underwriting
FAQ           Frequently Asked Questions
FBS           Fasting Blood Sugar (Report)
FC            Free Cover
FER           Foreign Exchange Regulations
FFDA          Fish Farmers Development Programme
FICCI         Federation of Indian Chambers of Commerce and Industry
FM            Favourable Mortality
FMR           Full Medical Report
FP            Female Proponent
FP            Financial Power
FPP           Financial Position of Proposer
FPR           First Premium Received
FR            Flat Rate
FS            Financial Sanction
FUP           First Unpaid Premium
FVIF          Future Value Interest Factor
FVIFA         Future Value Interest Factor for Annuity
FY            Financial Year
GA            Guaranteed Addition
GB            Graded Benefit
GGCLS         Group Gratuity Cum Life Assurance Scheme
GGS           Group Gratuity Scheme
GI            Gazette of India
GIC           General Insurance Corporation of India
GIS           Guaranteed Insurance Sum
GIVE          Gross Insurance Value Element
GLES          Group Leave Encashment Scheme
GMS           Group Mediclaim Scheme
GP            Grace Period
GPA           Group Personal Accident
GSLIS         Group Savings Linked Insurance Scheme
GSS           Group Superannuation Scheme
GSV           Guaranteed Surrender Value
GTIS          Group Term Insurance Scheme
GULP          Group Universal Life Products
Haz.          Hazard
HC            Health Certificate
HD            Health Declaration
HDFC          Housing Development Finance Corporation
HIA           Held In Abeyance
HLV           Human Life Value
HO            Head Office
HRA           House Rent Allowance.
HS            Housing Society
HUF           Hindu Undivided Family
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I.I.I.     Insurance Institute of India
IA         Immediate Annuity
IA 1938    Insurance Act 1938
IB         Indemnity Bond
ICAP       Indian Council of Agricultural Research
ICCC       Indian Company Coordination Committee
ICICI      Industrial Credit and Investment Corporation of India
ID         Industrial Dispute
IDBI       Industrial Development Bank of India
IDC        Indian Dairy Corporation
IF         Insurance Fire
IFCI       Industrial Finance Corporation of India
II         Insurable Interest
IJL        Insurance Joint Life
Incen.     Incentive
Instal.    Installations
IP         Invoice Posting
IR         Inward Register
IRDA       Insurance Regulatory and Development Authority
IRDP       Integrated Rural Development Programme
IT         Income Tax
IT         Information Technology
IT Act     Income Tax Act
ITD        Income Tax Deduction
ITL        Income Tax Liabilities
IVRS       Interactive Voice Response System
JA         Joint Account
JHF        Joint Hindu Family
KMI        Key Man Insurance
KP         Key Post
LA         Life Assured
LALGI      Landless Agricultural Labours Group Insurance
LC         Lien Constant
LD         Labour Dispute
LD         Lien Diminishing
LF         Ledger Folio
LH         Legal Heir
LIC        Life Insurance Corporation of India
LIC(HFL)   LIC Housing Finance Ltd.
LIC(MF)    LIC Mutual Fund
LICont.    Life Insurance Contract
LL         Landless Labour
LL         Letter of Lien
LMA        Level Monthly Advance
LP         Lapsed Policy
LPC        Last Pay Certificate
LPP        Last Premium Paid
LR         Lapse Ratio
M          Mode
MAN        Metro Area Networking
MB Plan    Money Back Plan
MCA        Motor Car Allowance
MCE        Marine-cum-Erection
MDRT       Million Dollar Round Table (international independent body of life insurance sales professionals)
MF         Medical Fee
MFA        Manual For Agents
MHR        Moral Hazard Report
MLOP       Machinery Loss of Profit
                                                                                                               4
Mly/ MLY   Monthly
MMS        Monthly Mileage Statement
MoF        Ministry of Finance
MP         Mode of Payment
MR         Medical Report
MS         Marital Status
Mty        Maturity
MWPA       Married Women Property Act
NABARD     National Bank for Agriculture and Rural Development
NAV        Net Asset Value
NDDB       National Dairy Development Board
NFR        Non Forfeiture Regulation
NHB        National Housing Bank
NI         Negotiable Instrument
NLA        Non Life Assurance
NLI        Nationalisation of Life Insurance
NRI        Non-Resident Indian
NSC        National Saving Certificates
NSE        National Stock Exchange
NSS        National Saving Scheme
O/S B      Outstanding Balance
O/S C      Outstanding Cheque
O/S P      Outstanding Premium
OAP        Old Age Pension
OC         Office Copy
OH         Office Hours
OI         Over Insurance
OR         Occupational Rating/ Ordinary Rating
OYRGTA     One Year Renewal Group Term Assurance
P Hly      Premium Half Yearly
P Mly      Premium Monthly
P Qly      Premium Quarterly
P Yly      Premium Yearly
P&IR       Personnel & Industrial Relations
PA         Paying Authority
PCTA       Policy Convertible Term Assurance
PDB        Permanent Disability Benefit
PE Plan    Pure Endowment Plan
PEA        Policy Endowment Assurance
PEA        Policy Educational Annuity
PF         Provident Fund
PH         Policy Holder
PI         Principle of Indemnity
PIR        Police Inquest Report
PLI        Postal Life Insurance
PMB        Policy Money Back
PMP        Policy Multipurpose
PN         Public Notification
POT        Proof of Title
PPF        Public Provident Fund
PR         Prohibition of Rebates
PRO        Public Relations Officer
PS         Partnership
PS         Pension Scheme
PV         Payment Voucher
PWB        Premium Waiver Benefit
PVIF       Present Value Interest Factor
PVIFA      Present Value Interest Factor for Annuity
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QR            Qualified Report
R A/C         Revenue Account
R Exp.        Revenue Expenditure
R Ins.        Re-insurance
R O/S C       Ratio of Outstanding Claims
RA            Reassigned
RB            Revisionary Bonus
RB            Retirement Benefit
RBI           Reserve Bank of India
RBP           Retirement Benefit Plan (of UTI)
RBT           Rural Business Trust
RC            Remittance of Cash
RCA           Rural Career Agent
RD            Recovery of Dues
RD A/C        Recurring Deposit Account
Rev. S        Revival Scheme
RGLIS         Rural Group Life Insurance Scheme
RI            Rate of Interest
ROC           Registrar of Companies
RP            Renewal Premium
RPGR 1986     Redressal of Public Grievances Rules 1986
RPR           Renewal Premium Receipt
RR            Reserve Ratio
RS            Review Slip
RSCB          Reconcilliation Statement Collecting Bank
RUS           Routine Urine Analysis
S/H           Section Head
SA            Sum Assured
Sanc. Auth.   Sanctioning Authority
Sav. Acc.     Saving Account
SB            Survival Benefit
SBI           State Bank of India
SBM           Senior Branch Manager
SC            Sickness Certificate
Sch. T.       Schedule Time
SCN           Show Cause Notice
SD            Self Declaration
SD            Secure Debt
SG            Security Guard
SI            Secret Inquiry
SL            Standard Life
SLC           School Leaving Certificate
SMD           Secretarial Managing Director
SOC           Settlement Of Claims
SOD           Settlement of Disputes
SP            Single Premium
SP            Subsequent Premium
SPI           Scheduled Premium Income
SPR           Special Premium Receipt
SR            Staff Regulations
SRB           Simple Reversionary Bonus
SRS           Scrutiny of Review Slip
SS            Specimen Signature
SSDM          Secretarial Senior Divisional Manager
SSGIS         Social Security Group Insurance Scheme
SSS           Salary Saving Scheme
SZM           Secretarial Zonal Manager
T&T           Table and Term
                                                          6
TQ        Technical Qualifications
TR        Testing Report
TRC       To Repudiate Claim
TY        Threshold Yield
U/W       Underwriting
u/s       Under Section
UAL       Upper Age Limit
UB        Undignified Behaviour
UGF       Utmost Good Faith
ULIP      Unit Link Insurance Plan
UTI       Unit Trust of India
UW        Underweight
VA        Visiting Agent
Val.      Valuation
VC        Visiting Card
VO        Verbal Order
VRS       Voluntary Retirement Scheme
WB        World Bank
WG        Written Guarantee
WL Plan   Whole Life Plan
WPP       With Profit Policy
WSD       Wholesale Dealer
WSE       Women Self Employed
WTA       Whole Time Agent
WWEI      Women With Earned Income
WWW       World Wide Web
X-Chrg.   Extra Charge
Yr.       Year
YT        Yield Table
0/00SA    Per thousand Sum Assured




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