| Cafeteria plan | Generic term for an employee benefit plan that allows the employees to select need-based insurance plan |
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| Calendar-year deductible | In health insurance, all deductibles are added together and insurer pays an amount in excess of the limit. |
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| Call Option | The option to buy is a call option and the option to sell is called a put option. |
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| Cancellation | The insured or the company may discontinue an insurance policy before its normal expiry date. |
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| Capital Market | The market for long-term financial claims is called the capital market. |
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| Capital Return | A return is seen in the price change and is called capital return. |
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| Captive insurer | In a large group, an insurance company is created to look after insurance concerns of the group. |
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| Cash Surrender Value | In a life insurance policy, the amount of money, adjusted for factors such as policy loans or late premiums, that the policy owner will receive if the policy owner cancels the coverage and surrenders the policy to the insurance company. Also called the net cash value. Compare to cash value. (2) In an annuity, the amount that a contract owner will receive if he surrenders a deferred annuity. This amount is equal to the accumulated value of the annuity less any surrender charges specified in the policy. |
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| Cash Value | In a life insurance policy, the amount of money, before adjustment for factors such as policy loans or late premiums, that the policy owner will receive if the policy owner allows the policy to lapse or cancels the coverage and surrenders the policy to the insurance company. Cash values are a feature of most types of permanent life insurance, such as whole life and universal life. Compare to cash surrender value. |
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| Ceding Company | Insurer accepts the business, retains a part of the risk and cedes the balance to the reinsurance company. |
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| Certificate of deposit | They are short-term deposit which are transferable between 2 parties. |
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| Claim | A request made by the insured under the terms of an insurance contract for payment of loss. |
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| Claimant | The person or party making a formal request for payment of benefits due under the terms of an insurance contract. |
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| Closed-ended schemes | Subscription for a M.F./Ulip Scheme is open for a limited period as opposed to an open-ended scheme. |
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| Co-ordination-of benefits provision | In group medicliam (more than one insurance), to avoid over-insurance and to ensure no benefits are paid double. |
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| Coinsurance | In health and property insurance, the insured is required to maintain insurance at a stated perecentages of its actual cash value. Say 80:20 coinsurance clause in health insurance. |
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| Commercial Paper | They are short-term unsecured promissory notes issued by reputed firms, with maturity period 90-180 days, and sold at a discount and redeemed at par. |
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| Commission | The part of an insurance premium, which an insurer shares with an agent or broker for his services in procuring and servicing the insurance. |
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| Comparative negligence | The financial burden is shared by both parties according to their respective degree of fault. |
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| Comunity Futures | Futures dealing in commodities. Online exchanges are: NCDEX, MCX, NMCE. |
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| Concealment | An insurance applicant's deliberate failure in revealing a material information to the insurer. |
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| Concealment | The insured knowingly conceals a material fact in the proposal. |
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| Condition | Provisions made in the insurance document that quailify or place limitations on the insurers promise to perform. |
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| Conditions | Provisions/Stipulations contained in an insurance contract which limit the insurer's promise to perform. |
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| Confirmation Certificate | A certificate issued to the beneficiary of a life insurance policy that outlines the amount of life insurance proceeds in a retained asset account, the account number, and the current interest rate. |
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| Contract | It is an agreement that binds two or more parties for doing or not doing certain things. An insurance contract is embodied in the written document referred to as policy. |
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| Contract of adhesion | The insured must accept all the terms and conditions of the insurance contract. |
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| Contribution by equal shares | In other-insurance case, each company is required to share equally in the loss until the share of each insurer equals the lowest limit of liability under any policy or until the full amount of loss is paid. |
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| Contributory negligence | Defence blocking an insured person from recovering damages if he or she has conributed in any way to the accident. |
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| Convertible bond | A bond holder has the option to convert partial or full, a bond provided the conversion takes place between 18 & 36 months. Conversion premium is fixed beforehand. |
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| Corridor deductible | Major medical plan deductible that integrates a basic plan with a supplemental group major medical expense policy. |
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| Covariance | It signifies the degree to which the returns of 2 securities vary or change together. Positive covariance shows same direction and negative covariance just the opposite. |
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| Cummutative contract | Equal values are exchanged. |
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| Current yield | In bond market, it denotes the annual coupon interest to the market. |
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