What Do I Need To Know About Whole Life Insurance?
Definition of "What do I need to know about Whole Life Insurance?"
Whole life insurance insurance provides the coverage amount to your beneficiary in the of your death, as well as cash value savings you can use during your lifetime.
Popular Insurance Questions
Popular Insurance Glossary Terms
Indemnifies an insured whose property is stolen, damaged, or destroyed by a covered peril. The term property insurance encompasses numerous lines of available insurance. ...
Method of establishing rates in which the current year's premium is calculated to reflect the actual current year's loss experience. An initial premium is charged and then adjusted at the ...
Present value of a series of payments such that the first payment is due immediately, the second payment one period from hence, the third payment two periods hence, and so forth. The ...
Risk management control procedure that emphasizes safety management. Its purpose is to reduce the frequency and severity of potential losses. Business firms apply this procedure by posting ...
Total amount of insurance that an insurer will write on any specific city block. Such a limit will reduce the insurer's exposure to a potential catastrophic occurrence, such as a hurricane, ...
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State laws based on a model law of the National Association of Insurance Commissioners (NAIC) that allow insurers to set rates independently; or adopt those rates developed by a rating ...
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Coverage on an all risks basis for goods in transit, bailment, and while on the premises of others. ...
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