Glossary G 
I

GAMA International A worldwide professional association serving field managers in the life and financial services industry. It provides a wide variety of education and training programs, including publications, seminars and resources to facilitate the sharing of ideas and techniques on recruiting, selecting, training and supervising sales associates and professional development of field managers.

garage liability (GL) A special policy written to cover auto salesrooms, used car lots, service stations, or repair garages for bodily injury and property damage with premiums based on payroll of the business.

general agent An agent who supervises other agents in a given territory and acts as an exclusive agent in this territory.

general damages Money paid to a claimant for losses that cannot be specifically measured, such as pain and suffering.

grace period Prescribed period of time after the premium due date during which the coverage remains in force and the late premium may be paid.

gross earnings Revenue from operating sources, before deducting expenses incurred in gaining such revenue.

group insuranceAn insurance plan by which a large number of persons are protected under one master policy.

guaranteed insurability (guarantee issue) An arrangement, usually provided by rider under an existing policy, whereby additional insurance may be purchased at various times, without a new medical examination or other evidence of insurability.