Conditional Insurance
Definition of "Conditional insurance"
Same as term Conditional Sales Floater: coverage for the seller of property on an installment or conditional sales contract if it is damaged or destroyed. For example, a television set is sold on an installment basis but is destroyed by a customer. The seller would be indemnified for the loss.
Popular Insurance Terms
Use of a life insurance policy dividend by the owner of a participating policy. Here the policy dividend is left with the insurance company to accumulate at a guaranteed minimum interest ...
Bonds that are secured by mortgage securities classified as either interest only or principal only strips (separate trading of registered interest and principal of securities). Insurance ...
Association of life insurance agents who meet minimum life insurance sales standards predetermined each year by the organization. Membership is a primary goal of professional life insurance ...
Premium income divided by the surplus account. ...
Costs incurred by an insurance company other than agent commissions and taxes; that is, mainly the administrative expense of running a company. ...
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 ...
Deleveraging of the insurance company's balance sheet. ...
Cash value of life insurance that accumulates according to a table in a policy. It reflects premiums in the early years that exceed the pure cost of protection during that period. If a ...
Insurance record showing the amount of insurance coverage placed on any one location. ...
Have a question or comment?
We're here to help.