Debit Insurance Home Service Insurance Industrial Insurance


Definition of "Debit insurance (home service insurance, indus­trial insurance)"

Life insurance on which a premium is collected on a weekly, bi-weekly, or monthly basis, usually at the home of a policyholder. The face value of the policy is usually $1000 or less.

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Planned Premium Payment/target Premium Pay­ment

Premium payment made by the policy owner under a universal life insurance policy, usually on an automatic monthly preauthorized bank draft basis. The ...

Syndicate

Group of insurers or re insurers involved in joint underwriting. Members typically take predetermined shares of premiums, losses, expenses, and profit ...

Recruiting

Search, attraction, interview, and employment of insurance agents. This is a primary function of the general agent (GA) or agency manager. ...

Strikes, Riots, And Civil Commotion Clause

Exemption in ocean marine policy for losses caused by strikes, riots, and civil commotion. ...

Return On Equity Ratio

Insurance company's net gain from operations divided by its adjusted surplus. This is the accounting rate of return on stockholder's equity since the ...

Master Contract

Same as term Master policy: single contract coverage on a group basis issued to an employer. Group members receive certificates as evidence of members ...

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