GCPA Glossary

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Occupation class
The category assigned to an insured by the insurance company based on the individual's job duties. The insured's category dictates the policy premium and contractual grouping.

Offering price
The price to buy one share of a specific stock or mutual fund.

Ongoing expenses
Fund expenses which are incurred annually, including management fees.

Open-end mutual fund
A mutual fund that does not have a fixed number of shares and will offer as many shares as investors are willing to buy. Refer to the fund's prospectus for complete information on risks, fees and expenses.

Own occupation
A term defining the most liberal interpretation of total disability where only one test is applied to determine the insured's eligibility for total disability benefits: the ability to perform the duties of one's own occupation.

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