Expediting Expenses

Methods for payment of the value of a policy. An insurance company can select one of three options in settlement of a loss: make a cash payment; take possession of damaged or destroyed ...

Table used in calculating minimum non forfeiture values and policy reserves for ordinary life insurance policies. These tables, which give minimum values that must be guaranteed to policy ...

Trust in which rights to make any changes therein are surrendered permanently by the grantor. The grantor uses this type of trust to transfer assets and any potential depreciation out of ...

Cancellation of an insurance policy on the date that policy becomes effective. This type of cancellation does not require any fees to be paid to the insurance company. ...

Insurer in a group of companies that act as subsidiaries. ...

Insurance salesperson who contacts potential customers and handles clerical responsibilities but has no authority to make insurance contracts. ...

Policy report issued to the policyowner that must include at least the following: first five years of premiums, cash values, death benefits, and dividends (if participating insurance); ...

Clause common to life and health insurance policies issued during wartime that exclude benefits for military service-connected perils of death, disability, illness, accident, or sickness. ...

Attachment to a property business insurance policy providing coverage for a business structure and any additions and/or extensions; merchandise and other stock and inventory within the ...