American College

Factors on the application that must be evaluated in order to complete the underwriting process: age; sex; physical condition; personal health history; family health history; financial ...

Coverage on an all risks basis for the insured's own property as well as property of others under the insured firm's care, custody, and control. Exclusions are wear and tear, mysterious ...

Life insurance contract that pays its owner dividends, which can be: taken as cash; applied to reduce a premium; applied to purchase an increment of paid-up insurance; left on deposit ...

Policy designed to act as a supplement to Medicare. The supplementation is in the form of additional benefits to that provided by Medicare. The additional benefits are in the form of ...

Amount expressed as a liability on the insurance company's balance sheet for benefits owed to policy owners. These reserves must be maintained according to strict actuarial formulas as they ...

Optional provision in a disability income policy that allows the policyowner to increase the monthly income sum at an approximate rate of 6%. ...

Same as term Floater: coverage for property which moves from location to location either on a scheduled or unscheduled basis. If the floater covers scheduled property, coverage is listed ...

Group insurance contract under which a periodic (usually monthly) disability income benefit is paid to the insured as long as he or she remains disabled. ...

Partnership in which family members hold all interest in the partnership. This partnership is treated as a cash flow through stand-alone entity. All sums of income and credits, as well as ...