General conditions
Set of contractual clauses previously prepared and presented by the insurer. They include the basic aspects of the insurance contract that are typical for risks with similar characteristics. They define, for example, general coverages and exclusions and the rights and duties of the parties.

Special conditions
Set of clauses that complement or specify the general conditions. The special conditions (usually additional coverages), which are actually contracted, are identified in the specific conditions.

Individual conditions
Set of clauses that adapt the contract to the specific situation of a policyholder. They identify, in particular, the coverages contained in the special conditions that were chosen, the values of the insured capital that were agreed, the deductibles that the parties established, the beneficiaries, the relevant characteristics of the person or insurance plan, and the effective date of the contract.

Source: ASF - Supervisory Authority of Insurance and Pension Funds.

• the costs of covering the risk;
• the costs of taking out and managing the contract and collection;
• charges related to policy issuance.

In addition to the premium, taxes and fees payable by the policyholder are added.

Source: ASF - Supervisory Authority of Insurance and Pension Funds.

In most insurance plans, risks are not covered until the premium is paid.

Whenever the initial premium, or its first installment, is not paid on the due date, the contract is automatically resolved (terminates). In this situation, the contract is considered to have ended on the date it was entered into. That is, there will be no coverage of the risks.

Whenever the following annual premiums, or subsequent payments, are not paid on the due date, the contract is not renewed.

Source: ASF - Supervisory Authority of Insurance and Pension Funds.

A claim is an event or series of events resulting from a cause capable of triggering the guarantees of one or more insurance contracts.

Source: ASF - Supervisory Authority of Insurance and Pension Funds.

The policyholder, the insured party, or the beneficiary must inform the insurer when a claim occurs.

They must do so within the period established in the contract or, if no period has been fixed, within eight days after the day on which they became aware of the claim.

Notification of the claim is called participation. The participation must contain all important information for the analysis of the accident and assessment of losses, such as its causes, the date and place of the event, and the losses suffered.

The policyholder, the insured party, or the beneficiary must submit all information requested by the insurer about the accident and its consequences.

Source: ASF - Supervisory Authority of Insurance and Pension Funds.