Glossary
Insurance full forms, explained in one line each
Insurance in India runs on short forms: GMC, GPA, GTL, OPD, STFI. Here is every one you are likely to meet in a policy, a renewal quote or an HR email, with its full form and what it actually means.
In short
- GMC is Group Mediclaim, GPA is Group Personal Accident, and GTL is Group Term Life.
- OPD is Out-Patient Department and IPD is In-Patient Department.
- FLEXA and STFI are the two groups of perils in a fire policy.
- Each short form links to the page that explains it in full.
Employee benefits
| Short form | Stands for | What it means |
|---|---|---|
| GMC | Group Mediclaim | Health insurance an employer buys for its employees, and often their families. Pays hospital bills up to the sum insured. |
| GPA | Group Personal Accident | Pays a fixed sum if an employee dies or is disabled in an accident. Usually covers the employee only. |
| GTL / GTLI | Group Term Life / Group Term Life Insurance | Life cover an employer buys. Pays the nominee if an employee dies while covered. |
| EDLI | Employees’ Deposit Linked Insurance | The life cover attached to an EPF account, with a benefit set by the scheme. |
| E / ESC / ESCP | Employee / Employee, Spouse, Children / plus Parents | The family tiers on a group health policy. |
| FCL | Free Cover Limit | In group life, the sum insured up to which no medicals are needed. |
| AOA | Any One Accident | A cap on what a GPA policy pays for one event, however many people are hurt. |
| PTD / PPD / TTD | Permanent Total / Permanent Partial / Temporary Total Disablement | The disability benefits in a GPA policy. TTD is paid weekly while a person cannot work. |
| SI | Sum Insured | The most a policy will pay. |
Health insurance and claims
| Short form | Stands for | What it means |
|---|---|---|
| OPD | Out-Patient Department | Treatment without admission: a consultation, a test, a pharmacy bill. |
| IPD | In-Patient Department | Treatment after admission to hospital. What most group health policies pay for. |
| PED | Pre-Existing Disease | A condition diagnosed, or advised or treated, in the 36 months before a policy starts. |
| TPA | Third Party Administrator | The company that handles claims and cashless approvals for the insurer. |
| CIS | Customer Information Sheet | The compulsory one-page summary of a health policy’s key terms. |
| AYUSH | Ayurveda, Yoga, Unani, Siddha and Homoeopathy | Treatments health policies now cover at par with others, subject to the wording. |
Business insurance
| Short form | Stands for | What it means |
|---|---|---|
| CGL | Commercial General Liability | Covers a business’s legal liability for injury or property damage to third parties. |
| PI | Professional Indemnity | Covers claims that a firm’s advice or service caused a client a financial loss. |
| E&O | Errors and Omissions | Another name for professional indemnity. |
| D&O | Directors and Officers liability | Covers claims against directors and officers over decisions made in their roles. |
| WC | Workmen’s Compensation | An employer’s statutory liability when a worker is injured or killed at work. Now called Employees’ Compensation. |
| FLEXA | Fire, Lightning, Explosion/Implosion, Aircraft damage | The core perils of a fire policy. |
| STFI | Storm, Tempest, Flood, Inundation | Weather and water damage in a fire policy. |
| EQ | Earthquake | Earthquake damage, often a separate section of a fire policy. |
| FLOP | Fire Loss of Profit | Profit and fixed costs lost while a business stays shut after fire damage. |
| MBD | Machinery Breakdown | Sudden mechanical or electrical breakdown of the machines covered. |
| EEI | Electronic Equipment Insurance | Computers, servers and electronics, including accidental damage and breakdown. |
Regulators and schemes
| Short form | Stands for | What it means |
|---|---|---|
| IRDAI | Insurance Regulatory and Development Authority of India | The insurance regulator. |
| ESIC | Employees’ State Insurance Corporation | Runs ESI for employees earning up to ₹21,000 a month at establishments with 10 or more employees. |
| EPF | Employees’ Provident Fund | The retirement savings scheme. EDLI life cover is attached to it. |
Frequently asked questions
What is the full form of GMC in insurance?
GMC stands for Group Mediclaim, also called group medical cover or group health insurance. It is health insurance an employer buys for its employees and often their families.
What is the full form of GPA in insurance?
GPA stands for Group Personal Accident. It pays a fixed sum if an employee dies or is disabled in an accident, and usually covers the employee only.
What is the full form of GTL and GTLI?
GTL stands for Group Term Life and GTLI for Group Term Life Insurance. Both describe life cover an employer buys for its employees.
What do OPD and IPD stand for?
OPD is Out-Patient Department, meaning treatment without admission. IPD is In-Patient Department, meaning treatment after admission to hospital.
What does STFI mean in fire insurance?
STFI stands for Storm, Tempest, Flood and Inundation: the weather and water perils in a fire policy. Whether it is included depends on the policy schedule.
What happens when you talk to us
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A note on this page. Everything here is general information, not insurance, legal, financial or tax advice, and nothing is an offer. Short forms can be used slightly differently by different insurers; your policy wording and schedule decide what is covered. For advice about your situation, talk to us.