Definition of Radiation

Radiation

radiation is the transfer of heat or energy from a hot surface to a cold surface through air or through a vacuum.

Emittance

Emittance refers to the ability of the surface to emit radiant energy. Emissivity ranges from 0 to 1 and a lower value indicates a reflective surface with a low level of radiation.

Reflective Insulation System

Reflective Insulation System is formed by a combination of low emittance surfaces and air spaces that provide reflective cavities, which have low levels of radiant energy transmission.

Cash Surrender Value

This is the amount available to the owner of a life insurance policy upon voluntary termination of the policy before it becomes payable by the death of the life insured. This does not apply to term insurance but only to those policies which have reduced paid up values and cash surrender values. A cash surrender in lieu of death benefit usually has tax implications.

Disability Insurance

Insurance that pays you an ongoing income if you become disabled and are unable to pursue employment or business activities. There are limits to how much you can receive based on your pre-disability earnings. Rates will vary based on occupational duties and length of time in a particular industry. This kind of coverage has a waiting period before you can begin collecting benefits, usually 30, 60 or 90 days. The benefit paying period also varies from 2 years to age 65. A short waiting period will cost more that a longer waiting period. As well, a long benefit paying period will cost more than a short benefit paying period.

Level Premium Life Insurance

This is a type of insurance for which the cost is distributed evenly over the premium payment period. The premium remains the same from year to year and is more than actual cost of protection in the earlier years of the policy and less than the actual cost of protection in the later years. The excess paid in the early years builds up a reserve to cover the higher cost in the later years.

Account Value

The sum of all the interest options in your policy, including interest.

Accumulated Value

An amount of money invested plus the interest earned on that money.

Benefit Value

The amount of cash payable on a benefit.

Cash Surrender Value

Benefit that entitles a policy owner to an amount of money upon cancellation of a policy.

Disability

Inability to work due to injury or sickness.

Disability Insurance (Credit Insurance)

Group Insurance designed to cover monthly obligations due to a borrower being unable to work due to sickness or injury.

Evidence of Insurability

Evidence submitted to Canada Life that is used to determine whether an individual is eligible for the insurance coverage the individual has applied for.

Level Premium

A premium that remains unchanged throughout the life of a policy

Appraisal Value

An estimate of the market value of the property.

Assessed value

The dollar value of an asset assigned by a public tax assessor for the purposes of taxation.

Air Space

The area between insulation facing and interior of exterior wall coverings. Normally a 1" air gap.

Allowance

A sum of money set aside in the construction contract for items which have not been selected and specified in the construction contract. For example, selection of tile as a flooring may require an allowance for an underlayment material, or an electrical allowance which sets aside an amount of money to be spent on electrical fixtures.

Bi-Level

A home that has two levels. Typically, a garage or storage area is situated in the lower level and the home in the upper section.

Central Air Conditioning

A system which uses ducts to distribute cooling and/or dehumidified air to more than one room or uses pipes to distribute chilled water to heat exchangers in more than one room, and which is not plugged into an electrical convenience outlet.

Forced Air Heating

A common form of heating with natural gas, propane, oil or electricity as a fuel. air is heated in the furnace and distributed through a set of metal ducts to various areas of the house.

Heat Pump

A device which uses compression and decompression of gas to heat and/or cool a house.

Low-Voltage System

Provides security, entertainment, communications, environmental control, networking, and other functions generally powered by a signal cable, phone line or data cable. Is not typically metered.

R Value

A measure of insulation. A measure of a material's resistance to the passage of heat. The higher the R value, the more insulating "power" it has. For example, typical new home's walls are usually insulated with 4" of batt insulation with an R value of R-13, and a ceiling insulation of R-30.

Radiant Barrier

A radiant barrier is a reflective surface, on or near a building component, that intercepts the flow of radiant energy to and from the building component.

Radiant Barrier System

A radiant Barrier System (RBS) is a building section that includes a radiant barrier facing an air space.

Radiant Heat

A heating system which uses hot water, steam pipes or electric resistance coils to heat the floors, walls or the ceilings of a room.

Reflective Insulation System

reflective Insulation System is formed by a combination of low emittance surfaces and air spaces that provide reflective cavities, which have low levels of radiant energy transmission.

Walk Through

A final inspection of a home before "closing" to look for and document problems that need to be corrected.

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