Caveat Emptor
Definition of "Caveat emptor"
Latin expression meaning "let the buyer beware." The purchaser buys a product or service at his or her own risk. This principle has been modified significantly as it relates to an insurance policy.
Popular Insurance Terms
Life insurance premium that is not currently due. Future payments are made on a frequency basis other than annual. ...
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Authority derived from an agent's contract with an insurance company. ...
Fee paid to an agent as compensation for his or her collecting premiums for debit insurance (home service insurance, industrial insurance). ...
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