Definition of "Clause"
In an insurance policy, sentences and paragraphs describing various coverages, exclusions, duties of the insured, locations covered, and conditions that suspend or terminate coverage.
Popular Insurance Terms
Life insurance on the life of a child that provides a death benefit to a beneficiary should the child die during a stipulated time period and the maturity value of the policy at the end of ...
Coverage for small mercantile establishments on a package basis. Combines six layers of protection: burglary of a safe; damage caused by robbery and burglary, whether actual or attempted; ...
Series of premium payments made to purchase an annuity. This is the same method of purchase used for level premium insurance ...
Person who has the responsibility for examining the risk to determine whether or not to insure it. ...
Person other than the annuitant as designated by the policyholder on whose life expectancy the annuity payment is also based. ...
Aggregate sums, in certain states, to pay claims of insolvent insurance companies. These funds are maintained by contributions of companies operating in a particular state in proportion to ...
Bodily injury liability and property damage liability expressed as a single sum of coverage. ...
Ownership of property by two or more persons who do not have rights of survivor ship. The share of a deceased tenant passes to that person's heirs and not to the other tenants. Because ...
One of four SEC divisions charged with regulating investment companies, investment advisers, and variable insurance products. The SEC requires variable insurance products to register with ...
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