Glossary

A recurring clause is a health insurance policy provision setting the time that must elapse between periods of disability for the recurrence to be considered a new benefit period.

Redact means to erase confidential or sensitive information.

Redhibitory defects are defects that render the home useless or are otherwise so material that the purchaser would only have purchased for a discounted price had he or she been made aware of the issue.

Redlining is an underwriting practice involving the rejection of a risk based solely on geographical location.

Redomiciling refers to changing the insurer's domicile.

Reduced paid-up insurance refers to a life insurance nonforfeiture benefit that provides paid-up insurance for a lesser amount than the cash value of a policy that has lapsed because of premium nonpayment.

Reformation refers to a remedy available to an insurer when an otherwise valid insurance policy does not, as written, fully or accurately express the agreement of the insurer and the insured because of fraud, inequitable conduct, or mutual mistake.

A refund annuity is a form of periodic payment that provides for refund to a beneficiary in the event the annuitant dies before the total compensation has been paid.

A registered agent is the person or firm legally appointed to accept service of process.

A Registered Health Underwriter (RHU ® ) is a professional designation granted by the American College of Financial Services to individuals who pass examinations oriented toward group insurance benefits and health insurance for individuals and families.