Additional Living Expense Loss
Definition of "Additional living expense loss"
Same as term: Additional Living Expense Insurance: coverage under a Homeowners, Condominium, and Renters policy, that reimburses costs of residing in a temporary location until the insured's home can be made whole again. It usually provides living expenses of from 10-20% of the structural coverage on the home.
Popular Insurance Terms
Time during which an assessment life insurance company has the right to assess policyholders if losses are worse than anticipated in the premium charged. ...
Termination of premium payments by an employer on behalf of an employee to an employee benefit plan. ...
One who purchases insurance, usually property and liability and not life or annuities, by utilizing his or her own employee purchaser or licensed broker/agent at a minimum annual premium of ...
Performance of a deed or function. Certain acts are prohibited from coverage in insurance. For example, if the insured commits a felony, the insured's beneficiary cannot collect under the ...
Licensed agent's signature on an insurance policy. ...
Extent of the loss caused by accidents. Used in predicting the dollar amount of losses upon which the premiums are based. ...
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Account in which the same interest rate is credited on all premiums regardless of the time period and amount contributed. ...
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