GCPA Glossary

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Recurrent disability
Term used to describe situations where a disability occurs, the insured recovers for a short period of time, then experiences a recurrence of the same or a related disability. Insureds with recurrent disabilities do not have to wait until their elimination period is over before they receive benefits.

Repos
A contract in which the seller of debt securities, usually Treasury bills, agrees to buy them back at a specified time and price. Also known as a repurchase agreement or buy back.

Residual disability benefit
Built into some policies, available as an option with others, this benefit pays the insured a portion of the total disability benefit after a return to work based on the percentage of income lost due to the disability.

Risk
Uncertainty regarding the expected rate of return and/or principal value or loss of an investment.

Risk tolerance
The ability of an investor to tolerate the risk of losing money for the potential to make money.

Russell 2000 Index
The Russell 2000(R) Index measures the performance of the 2,000 smallest companies in the Russell 3000(R) Index, which represents approximately 8 percent of the total market capitalization of the Russell 3000(R) Index. As of the latest reconstitution, the average market capitalization was approximately $580 million.

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