Policy provision designed to restore an insured to his or her original financial position after a loss. The insured should neither profit nor be put at a monetary disadvantage by incurring the loss.
Payments made to the insured by the insurance company before the settlement date. For example, a claim is scheduled to be settled on June 1, 2000, but the insurance company pays the ...
each individual has an unlimited insurable interest in his or her own life, and therefore can select anyone as a beneficiary. parent and child, husband and wife, brother and sister have an ...
Average earned monthly income of the insured wage earner after regular earned income has been interrupted or terminated because of illness, sickness, or accident. This income amount is ...
Contract providing income payments beginning when the named contingency occurs. For example, upon the death of one spouse (the contingency), a surviving spouse will begin to receive monthly ...
Professional association that sets standards of performance for those engaged in actuarial functions. Members are entitled to use the professional designation MAAA (Member, American Academy ...
Arrangement whereby an insurance company agrees to pay specified health care service vendors a predetermined sum for providing such services to the covered individuals. ...
Health insurance also known as .disability insurance. is insurance of human beings against bodily injury, disablement, or death by accident or accidental means. ...
There comes a time when every zealous homeowner asks himself – usually at a very inconvenient hour, like 3 am: Do I need Flood Insurance?
The answer is: probably.
Here’s why: ...
The short and simple answer is not quite. When you purchase or own a house, you need to have homeowners insurance for that property. A homeowners insurance covers potential losses and/or ...
A CD, or Certificate of Deposit, is an investment usually made for a given period of time at a fixed rate of interest. CDs are offered by financial institutions such as banks, and are often ...
Commercial insurance is designed to help protect many of the risks your business can face, including: damage or destruction to your business vehicles certain liability exposures resulting ...
You need separate coverage for the variety of risks you face when storing, launching, hauling or running your seaworthy vessel. Boats, and other watercrafts can be large investments, and ...
You’ve read all about how to stop a lien on your property, which convinced yourself that title insurance is a must. But now you’re wondering how to get title insurance. ...
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