a b c d e f g h i j k l m n o p q r s t u v w x y z
Face Amount

The amount indicated on the face of a Life policy that will be paid at death or when a Whole Life policy matures at age 100. Also known as the Death Benefit or the policy limit. Not taxable.

Fair Plan

Fair Access to Insurance Requirements. A program established by law that makes Property insurance available and affordable to insureds who might otherwise be uninsurable because of “environmental hazards.”

Family Income Rider

Added to a Whole Life policy for an additional premium, this rider is similar to the Decreasing Term Rider except that payments to the beneficiary are in the form of monthly income rather than a lump sum. For example, if you added a 10 year $100,000 FIR to your policy and died five years later, your family would receive $10,000 a year for five years PLUS the face amount of your Whole Life policy. Remember, the rider is term insurance and you must die in the term. If you died after 11 years, the rider would not cover, but the Whole Life would, since Whole Life is “permanent” insurance, covering to age 100.

Family Plan Policy

A combination plan covering your entire family, usually with Permanent insurance on the father’s life, with mother and children automatically covered for lesser amounts (usually Term), all included under one premium.

Federal Crime Insurance

A federally administered program that makes crime insurance available and affordable to risks that might otherwise have found coverage difficult to obtain.

Fidelity Bond

A class of bonds that guarantees an employee’s honest discharge of duty.


A person who occupies a position of special trust and confidence. For example, one handling or supervising the affairs or funds of another. Insurance producers are considered to be fiduciaries.

Financial Responsibility Laws

State laws that require owners or operators of autos to provide evidence that they have the funds to pay for automobile losses for which they might become liable. Insurance is the usual method for providing this evidence to the state.


Combustion, sufficient to produce a spark, flame, or glow, that is hostile (not in a place where it is intended to be). An example of a friendly fire is a fire in your fireplace or the flame on your gas stove.

Fire Insurance

1) Contract that indemnifies an insured for loss caused by the destruction of the insured property resulting from fire. 2) The field of insurance that provides policies on the insured property for a variety of Perils, including Fire.