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Popular Real Estate Questions

Popular Real Estate Glossary Terms

Circumstance that increases the probability of loss because of the insured's indifferent attitude. For example, if an insured leaves the doors unlocked and the windows open when leaving ...

Value of property as established by the price a willing buyer would pay for property purchased from a willing seller, compared with the replacement cost of damaged or destroyed property ...

Policy that provides an income for life to the primary beneficiary upon the death of the insured. The face amount of the policy becomes payable to the secondary beneficiary upon the death ...

Same as term Elimination Period: form of deductible usually found in disability income insurance; for example, no benefits may be payable for a length of time beginning with the first day ...

Surrender of rights by an insured against the third party to an insurance company that has paid a claim. ...