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The usefulness of glossaries can be a bit like the usefulness of dictionaries – unless you know how to spell the word how do you look up how to spell the word? Most glossaries are only going to tell you what something means in absolute terms and won’t tell you what it means to you as the adviser. The Risk Store glossary is different.
Here’s a simple but telling example:
The insurer has asked for a P.M.A.R. from Dr Smith.
What’s a P.M.A.R.? Look up this glossary.
P.M.A.R.= Private Medical Attendant’s Report giving the medical history of the client.
Right; so now what do I do with this piece of information??
What you really need to know is a range of answers to questions like:
- Do I tell the client this?
- How long will this report take?
- Am I supposed to chase Dr Smith?
- Is the client supposed to chase Dr Smith?
- Will the client see this report?
- Does the doctor get paid for this; is it a pre-payment?
- What happens when the report is received?
That’s an indication of the difference you’ll find between The Risk Store glossary and others. Sometimes it’s so straightforward there’s no need for further explanation. Where it isn’t necessarily self-evident, for the less experienced adviser, then we will go the extra mile to explain what it also means in practical terms.
We hope you find it useful and we welcome any suggestions for additions as I’m sure there are other terms which cause confusion in the life risk insurance (and associated) world that we haven’t thought of.
Let us know using the 'Contact Us' link at the foot of the site.
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