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
Professional designation earned after the successful completion of three national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as ...
Property coverage on a dealer's interest in equipment while it is being installed. Labor and material are protected against such perils as fire, lightning, and windstorm. For example, if an ...
In many health insurance and dental insurance policies, stipulation that, if the estimated cost of a recommended plan of treatment exceeds a specified sum, the insured must submit the plan ...
Act by a company that authorizes an agent to act on its behalf. ...
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Coverage designed to protect against loss exposures of business firms, as opposed to those of individuals. ...
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Life insurance rate determined by the valuation of company policy reserves. State regulators set strict standards for policy reserves to make certain that life insurers will have enough ...
New rule entitled "Accounting and Reporting for Reinsurance of Short-duration and Long-duration Contracts," which requires the insurance company to report all assets and liabilities ...
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