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Popular Real Estate Glossary Terms
Insurance policy renewable at the option of the insured for a specified number of years or to a stated age. The insurance company cannot refuse to renew the policy and cannot change any of ...
Beneficiary's choice, in a life insurance policy or annuity, for receiving income payments for a given period of time. The number of payments are fixed by the payee; the benefit amount is ...
Proportion of losses incurred to premiums earned. This ratio indicates the amount of a premium dollar that is being consumed by losses. ...
Agreement "of utmost good faith." Under law, it is assumed that insurance contracts are entered into by all parties in good faith, meaning that they have disclosed all relevant facts and ...
Condition that must be fulfilled or requires certain action before the estate granted can take effect. ...