Decreasing Term Life Insurance
Coverage in which the face amount of a life insurance policy declines by a stipulated amount over a period of time. For example, the initial face amount of a $100,000 decreasing term policy decreases by $10,000 each year, until after 10 years the face value equals zero. The premium does not decrease.
Popular Insurance Terms
Coverage for the owner of an airplane in circumstances where use of the owner's premises as an aircraft hangar results in bodily injury or property damage to a third party. Excluded from ...
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Liability insurance coverage for claims arising from acts that occurred before the beginning of the policy period. Policies written on a claims made basis, such as malpractice liability ...
Section of some inland marine insurance {transportation insurance) and many other property insurance policies excluding coverage for damage to shipped goods by vermin such as rats. ...
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Record of ordinary policies that a combination agent is responsible for servicing. ...
Method by which each member of an insurance pool shares in each and every risk written by the other members of the pool. ...
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