A handy jargon buster to help you understand some health insurance terminology.


A beneficiary is the person, company or estate that receives benefits (or payouts) from an insurance policy. For health insurance, this is usually yourself or the healthcare supplier who needs to be paid. Under health insurance beneficiaries could also be called ‘insured’, ‘members’ or ‘policyholders’.

For life insurance, your beneficiary could be your family members, loved ones of friends – in fact anyone you name.


A benefit is commonly referred to as a ‘pay out’ – it’s any money your insurers pay you, or the healthcare provider owed, upon making a successful claim.

Benefit is not to be confused with ’employee benefits’, which are non-wage related perks or compensations a company may offer its staff in addition to their normal salaries.


An insurance broker is someone who searches a market on behalf of their clients to obtain the best product for their needs.

In terms of health insurance, Towergate Health &Protection are brokers – we search the UK health insurance market for you, and find you the best deal possible.


Business Loan Protection is a type of life insurance – it allows a business to settle a debt should a key employee (for example a CEO or Director) pass away. A company’s overdrafts, loans and even commercial mortgages would all be covered by this type of insurance. Business Loan Protection could take the form of Key Man Insurance.

Chase Templeton Limited is registered in England and Wales No. 3299980 – registered address: 5 Arkwright Court, Blackburn Interchange, Darwen, BB3 0FG. Towergate Underwriting Group Limited is registered in England and Wales No. 4043759 – registered address: Towergate House Eclipse Park Sittingbourne Road Maidstone Kent ME14 3EN.  VAT Registration No: 447284724.