Annual Insurance Policy
Definition of "Annual insurance policy"
Same as term Annual Policy: contract remaining in force for up to 12 months unless canceled earlier. After 12 months the policy can either be renewed or not renewed by the insurance company or the insured. The policy need not be paid for on an annual basis.
Popular Insurance Terms
Endorsement attached to an insurance policy that eliminates coverage for certain specified perils. ...
Major credit insurer of the early 20th century that merged into the London Guarantee and Accident Co. in 1931. ...
Section of the code that qualifies that the death benefit paid under a life insurance policy is received by the beneficiary income-tax free. These tax consequences apply regardless of the ...
Cost involved in an insurance company's adjustment of losses under a policy. ...
Assets that are not readily convertible into cash 'without a significant loss of principle, such as an automobile, a house, television set, a radio, etc. ...
Same as term Final insurance: premiums paid out of funds borrowed from the cash value of a life insurance policy. ...
Automobile insurance plan, debated for a number of years, that is financed through a surcharge of a given number of cents per gallon (estimates run from 30 to 40 cents) to be paid by the ...
Authority to act on behalf of an individual that terminates upon its revocation or death of that individual. ...
Type of disability income policy used to provide funds for the ongoing monthly business expenses (such as employee salaries, utility charges, rent, and equipment payment due) necessary to ...
Have a question or comment?
We're here to help.