Clauses Added To A Life Insurance Policy
Provisions, usually requiring an additional premium, that are appended to an insurance contract. These include waiver of premium (WP), disability income (DI), accidental death clause, policy purchase option (PPO). The young family with children may wish to consider these clauses since the breadwinner is seven to nine times more likely to become disabled than to die at a young age.
Popular Insurance Terms
cost of annuity based on expectation of life of the annuitant and the expense and profit loadings of the insurance company. ...
Coverage on an all risks basis for fur garments belonging to customers of a furrier. ...
a contract in life insurance that includes elements of whole life and term insurance. in pensions, a combined life insurance policy and a side (auxiliary) fund to enhance the amount of a ...
Payments in excess of the value of the loss a prohibited practice. When an insured has more than one policy covering a risk, the full value cannot be collected from each policy if a loss ...
Option to an insurance company to replace, reconstruct (repair), or reproduce (rebuild) damaged or destroyed property covered by property insurance rather than indemnify an insured in cash. ...
Premium rate charged by the insurance company (insurer), which is below the standard rate. ...
Trust that cannot be revoked by the creator. ...
Incidents covered under workers compensation benefit. ...
Coverage during the transfer of securities and monies, precious metals, and other specified types of valuables by armored guard services. Policies are specifically designed to fit an ...
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