Bail Bond
Monetary guarantee that an individual released from jail will be present in court at the appointed time. If the individual is not present in court at that time, the monetary value of the bond is forfeited to the court (jumping bail). Personal automobile policies commonly cover fees for an insured's bail bond.
Popular Insurance Terms
Mathematical combination of one-year term insurance and one-year deferred permanent insurance such that no reserve has to be set up for the first year the policy is in force and allowance ...
Statutory underwriting gain minus (or loss plus) policyholder's dividends. ...
Section of the code that qualifies the establishment of a trust for minors under which income can be accumulated until the minor reaches age 21. At that point, the accumulated income can be ...
Policy that has many similar characteristics to that of the survivor-ship annuity in that the annuitant receives a predetermined monthly income benefit for life upon the death of the ...
Indemnification of a school for the loss of tuition, and room and board fees when it is forced to suspend classes because of the occurrence of a peril. ...
In an insurance policy, sentences and paragraphs describing various coverages, exclusions, duties of the insured, locations covered, and conditions that suspend or terminate coverage. ...
Unexpected, unforeseen event not under the control of the insured and resulting in a loss. The insured cannot purposefully cause the loss to happen; the loss must be due to pure chance ...
Plan that involves distribution of property by living hand and distribution of property after the death of its owner. Distribution by living hand can take the form of an outright gift, a ...
Coverage for dispensers of alcoholic beverages against suits arising out of bodily injury and/or property damage caused by its customers to a third party. Establishments covered include ...
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