Continuing Care Retirement Community
Retirement center with a focus on group living arrangements for senior citizens. The center has separate apartments for each resident as well as an on-site nursing facility. Generally, these centers are quite expensive; they require monthly fees as well as a one-time payment (entrance fee). The monthly fee entitles the inhabitant to an apartment, one to three meals a day (depending on the facility), maid service (in some facilities), medical service (if needed), and nursing home care (also, if needed).
Popular Insurance Terms
Rate not subsequently adjusted. The rate stays in effect regardless of an insured's subsequent loss record. ...
Same as term Fortuitous Loss: loss occurring by accident or chance, not by anyone's intention. Insurance policies provide coverage against losses that occur only on a chance basis, where ...
Insurance protection written in the form of a single line policy. ...
Provision in the extended coverage endorsement stating that smoke damage is covered when it results from the sudden, unusual, and faulty operation of an on-premises cooking or heating unit, ...
Addition to the pure cost of insurance that reflects agent commissions, premium taxes, administrative costs associated with putting business on an insurance company's books, and ...
Federal program to insure private U.S. investments in foreign countries, created by the Foreign Assistance Act of 1961. It is a joint government and private effort to encourage U.S. ...
Adjustment of the burning cost ratio for the increase in number and size of losses (losses likely in excess of that used in the unadjusted burning cost rate), incurred but not reported ...
Estimated future dividends to be paid by a participating insurance policy. These dividend estimations cannot be part of the policy since they are not guaranteed. They are normally shown in ...
Bond derivatives of short-term duration whose principal or coupon value is determined by a market index. Market indexes that can be utilized include securities, commodity prices, and ...
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