Glossary: insurance, SSS and money terms in plain English

Each entry gives the meaning in one sentence, then how it works in the Philippines, with the law or circular it comes from. New entries are added as they are written.

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• Insurance policy terms: beneficiary, cash surrender value, contestability period. These matter most when you buy or claim on a life policy; the insurance guide maps the main kinds of cover.
• SSS terms: beneficiary explains who SSS pays when a member dies. The SSS guide covers membership, contributions and benefits.
• Saving, investing and retirement terms: dividend, as paid on Pag-IBIG MP2 savings, shares and some life policies. The investing guide and the retirement planning guide put these in context.

How each entry is written

• A one-sentence definition at the top, the same sentence you see in this list.
• The Philippine rule, with the section of the law or the circular it comes from.
• A worked example, in pesos where one can be given. Amounts that do not come from an official source are made up, and the entry says so.
• Where you meet the term: the form, statement or contract it appears on.
• A common mistake people make with it.
• Sources, each with the date it was checked.