Antirebate Law
Definition of "Antirebate law"
Statute that makes it illegal in most states for an agent to rebate (return) any portion of his commission as an inducement for an applicant to purchase insurance from him.
Popular Insurance Terms
Performance of managerial and clerical functions related to an employee benefit insurance plan by an individual or committee that is not an original party to the benefit plan. In selecting ...
Insurance arrangement in which all employees of a given business firm are accepted into a plan regardless of their physical condition. The employee cannot be required to take a physical ...
Type of commercial form that provides coverage for business vehicles regardless of whether they are owned, leased, hired, or borrowed. The form's coverages are divided into the following ...
Insurance that follows an insured property. ...
Liability insurance exception for pollution coverage that is not both sudden and accidental from the insured's standpoint. As a result of the damage suits from such incidents as the ...
Component of necessary coverage determined by the "needs approach" to life insurance for a family. It is intended to cover last-minute expenses as well as those that surface after the death ...
Evidence of a temporary contract obliging a life or health insurance company to provide coverage as long as a premium accompanies an acceptable application. This gives the company time to ...
Term or whole life policy with a face value that increases over time. ...
Person who has been authorized by the insurance company to pay a loss (s) incurred by the insured. ...
Have a question or comment?
We're here to help.