| Term | Definition |
| Accident Protection Plan (APP) | Provides insurance coverage for the loss of life (only) as a result of a covered accident. |
| Accidental Death and Dismemberment (ADD) | Covers for the loss of life, limb, sight, speech or hearing resulting from a covered accident. |
| Activation/Enrollment Form | The part of the solicitation that the customer must complete, sign and return to Franklin Madison Group to activate the requested coverage. |
| Automated Clearing House (ACH) | Billing type that refers to the process where a financial institution distributes electronic debit/credit entries to bank accounts |
| Basic Coverage (Non- Contributory) | Insurance coverage paid for by the financial institution/association, referred to as Complimentary coverage. |
| Batch Pull | Request made on the activity screen for a Proof of Enrollment or a Beneficiary Designation document. |
| Beneficiary | The person or persons who will receive the benefit(s) upon the death or loss of the primary insured. |
| Benefit | The coverage amount of the insurance in consideration of any reductions due to age. |
| Billing Cycle | The billing frequency assigned to the account (monthly, quarterly, bi-annual, annual). |
| Billing Date | Date the premium will be debited or charged to the selected account. |
| Billing Rejects | If funds are not available, the account has been closed, or the account information does not match to the financial institution’s system, the billing is rejected by the financial institution. |
| Carrier | A company that offers and underwrites insurance policies and is licensed and authorized to sell insurance products. |
| Client | The financial institution/association with account holders or members to which Franklin Madison markets insurance products. |
| Client ID | A unique nine digit number that identifies the client. |
| Collection Status | BILLED: Premiums may have been collected
REBILLED: Premiums were not collected; will bill again REFUNDED: Premiums have been refunded |
| Coverage ID | A unique nine digit number that identifies the coverage. |
| Customer Appreciation Program (CAP) | An AD&D program that offers a non-expiring Basic component for active account holders with the Financial Institution. |
| Customer ID | A unique nine digit number that identifies the customer. |
| Customer Service Inquiry Screen | “Home Screen” for the contact center agent. The screen is laid out with search criteria at the top of the window and search results at the bottom. |
| Direct Mail Campaign | An offer of insurance mailed to the eligible account holders/members of the financial institution. |
| Direct to Consumer/BroadMarket (DTC) | Direct Mail Marketing to an individual that is not affiliated with a financial institution. |
| Drop Date | Indicates the date the solicitation was mailed to the customer base. |
| Effective Date | The date on which the coverage or change goes into force. |
| Email Campaign | An offer of insurance emailed to the eligible account holders/members of the financial institution. |
| Exclusions | Items or conditions that are not covered by the insurance policy. |
| Family Coverage | Coverage provided to the Primary Insured and eligible family members. |
| Financial Institution (FI) | Banks, Credit Unions, Mortgage Companies, and other affinity relationship groups are all considered financial institutions. |
| Flash | Updates of urgent and pertinent communications pertaining to a given client. |
| FMService.com | Website where customers can manage their insurance. |
| Fulfillment | The corresponding Insurance Coverage Document sent once the customer’s request for insurance coverage is successfully processed. |
| Function Keys | Located at the top of the keyboard, these keys (F Keys) perform a specific task when pressed on a given screen. |
| Hard Decline | The reject case where Franklin Madison will never be able to successfully collect premium (i.e., closed account). |
| Hospital Accident Protection (HAP) | Plan that provides cash benefits to the insured in the event of hospitalization due to a covered accident. Also provides cash benefits for hospitalization in the intensive care unit or treatment in the Emergency Room due to a covered accident. |
| Individual Coverage | Coverage provided only to the Primary Insured. |
| Injury Care Accident Insurance | Provides cash benefits directly to the insured due to a covered injury. |
| Insufficient Funds (ISF) | The customer did not have enough funds available for us to collect the premium for their account. |
| Insurance Coverage Document (ICD) | The document that outlines the benefits, provisions and exclusions of the coverage. |
| Off Cycle Billing | A special billing arrangement that occurs when a financial institution bills outside of normal cycle. |
| Online Enrollment | The process where the customer is enrolled in complimentary coverage by the contact center agent in Artemis. |
| Posting Date | The actual date on which the account is/will be billed. |
| Power of Attorney (POA) | Refers to the situation where an individual has obtained legal permission to act on behalf of (with the same authority as) another individual. |
| Premium Due Notice (PDN) | A courtesy reminder for the customer to remit premium in order to avoid a lapse in coverage. |
| Premiums | Payment required for insurance to keep the coverage in force. |
| Pre-note | A test of the account to ensure Franklin Madison has the correct account information to debit the account. |
| Pre-Payments | Payment received in advance of the scheduled due date. |
| Primary Insured (PI) | The primary individual covered by the insurance as indicated on the insurance coverage document. |
| Principal Sum | The total coverage amount that the insured is eligible to receive as the benefits for a covered loss as designated in the Insurance Coverage Document. |
| Provisions | The terms and conditions of the policy. Examples: Under what circumstances would a payment be made to the insured or how a claim would be settled if covered by more than one policy. |
| Re-Billing | If premiums are not collected as part of the initial billing, Franklin Madison repeats the billing process in an effort to collect funds. |
| Recuperative Care | Plan that provides coverage to help protect the customer by providing cash benefits after the insured has been released from the hospital provided the hospitalization was due to a covered accident or sickness. The benefit is paid in a lump sum once the insured is released from the hospital. |
| SES ID | Solicitation Event Segment. A unique identifier given to a solicitation. SES numbers are used by Franklin Madison’s Marketing team to distinguish various marketing initiatives. |
| Sickness | An illness or disease which is diagnosed or treated by a Physician. |
| Soft Decline | The reject case where Franklin Madison may be able to bill the account again at a later date and collect the premium. For example, insufficient funds. |
| Spoken Key | An alpha numeric code on the Activation Form that identifies the offer from the client. |
| Supplemental Coverage (Contributory) | Additional coverage elected by the customer for which they pay the premium. Also known as Contributory or Voluntary coverage. |
| Suppress | To remove the customer from our mailing list. |
| Term Life Insurance | Provides protection against loss of life whether by accident, sickness, or disease. |
| Third Party Administrator | An organization that handles various types of administrative functions for an insurance carrier. Franklin Madison is a licensed Third Party Administrator. |
| Transit Routing Number (TR#) | Indicates the number that ties the account to a particular bank. |
| Ultra (AD&D) | A variation of the traditional AD&D product, with complimentary coverage which expires one year from the original effective date. |
| Upsell offer | Offer customers receive to increase their coverage amount. |
| Workflow Request | The contact center process to send a message to claims or customer relations. |