Um glossário para conhecer todos os conceitos de seguros

A glossary to learn all the concepts of insurance.

Hiring an insurance can be a challenge, due to all the complex concepts used by professionals. That is why we have gathered in this glossary all the terms you should know, in order to be able to subscribe to an insurance informedly.

26 Sep 20235 min

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Do you want to hire a new insurance policy or review your insurance portfolio? You've come to the right place: the insurance brokers from Poupança no Minuto are here to help you. But before diving into an insurance process, better understand the terms that will be used.

Insurance Company

The institution that engages in activities legally and enters into insurance contracts with customers or companies.

Insurance policyholder

The client or company that hires insurance from the insurer is responsible for paying the premium.


The insured is the person who is protected by the insurance contract, individual or collective. It may or may not be the policyholder.

Safe capital

Safe capital is the value corresponding to the maximum reimbursed by the insurer in case of a claim, agreed between the client and the institution in the policy. If the amount of the claim exceeds this value, the insurer only covers the amount of safe capital defined in the contract.

Franchise opportunity

Franchise is the amount payable by the insured in case of a claim, as specified in the contract. The insurer only covers amounts above a certain threshold; anything below that is the deductible paid by the customer. It can be a fixed amount or a percentage.


The prize is the amount paid for insurance, which can be settled in monthly, quarterly, biannual, or annual installments. The amount is calculated based on factors such as the type of insurance, the client's age, gender, lifestyle habits, and health history.


An insurance policy is the combination of documents that form the contract between the insurer and the insured customer. These include information about the insurance conditions (general, special, and specific), and additional clauses to the contract.

General, special, and specific conditions.

General conditions refer to the basic clauses of the insurance, applied to the majority of insurances of the same branch. It includes general coverage and exclusions, as well as the rights and obligations of both parties. Special conditions refer to the specificities of the insurance, such as extra risk coverage. And particular conditions include the defined conditions, about the covered risks, premium, policyholder, insured, the start and end date of the policy, or other important characteristics.

Grace period

The waiting period exists in specific insurances, such as health and pet insurance, and represents a time frame in which the insured cannot use the insurance. This period occurs immediately after contracting the insurance. In other words, during this period between contracting and being able to use it, you are unable to activate coverage or benefit from the conditions. The objective is for the insurance company to protect itself from fraud or misuse. Find out more at


In certain insurance policies, there are specific coverage exclusions. Therefore, you must always pay attention to the exclusion clause in the insurance policy you are subscribing to.

Duplicate coverage

If you have more than one insurance, even if they are different, you may run the risk of contracting duplicate coverage. That is, you should consult the policies of the other insurances you have contracted to verify if you are not left with unnecessarily duplicate coverage.

Temporary absolute incapacity compensation (ITA)

Temporary absolute incapacity (ITA) occurs when the insured suffers from illness or accident that incapacitates them from performing their professional activity, for a certain period of time. The compensation corresponds to the amount to which the worker is entitled when unable to perform their work, receiving a daily compensation of 70% of their salary in the first 12 months and 75% after that period. The insured stops receiving this amount when a cure is verified or if permanent disability is considered. More info at: here

Update of outstanding capital

It allows, in the case of subscribing to a home credit insurance, for the insurance value to follow the outstanding amount. In other words, if the insurance is triggered in case of a claim, the bank is entitled to the amount corresponding to the debt at that time, and it is cleared.  

Shared percentages

Percentage reimbursed by the insurer for each claim.  

Available capital

Value available for each coverage annually.  

Payment method

It corresponds to the way in which payment for services is made. For example, in health insurance, it can be through a reimbursement system, in which the insured pays and is later reimbursed the part covered by the insurance, or through direct discount on the payment at the time.

Actuarial age

It is the policyholder's age on the start or renewal date of the contract, but the date closer to their birthday is considered of birth. That is, if there are more than 6 months until that date, the current age is considered, but if there are less than 6 months, the age is rounded up to the next year.

Termination of insurance

The date of termination of insurance coverage can be defined in the contract, ending it due to expiration. If a end date is not specified in the contract, it can automatically renew. Therefore, if you need to terminate the insurance, you must send a notice with at least 30 days in advance (check the contract, as it can be up to 90 days). Termination can also be done by revocation, if the insurer and the insured are both in agreement, or by withdrawal within 14 or 30 days after receiving the policy.

Are you into insurance? Shall we move forward with your process? Speak directly with the insurance brokers at Poupança no Minuto, and show that you know how to speak "insurance".


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