Structure. In general, company functions are delegated to several departments: actuarial, agency, claims and loss control, investments, legal, marketing, and underwriting.
Federal agency that collects and analyzes numerous U.S. demographics used by government and industry. Insurance companies use the demographics to predict areas of high demand for their ...
Same as term Burglary Insurance: coverage against loss as the result of a burglary. Found as part of the commercial package policy that has generally replaced the special multiperil ...
Same as term Contractors Equipment Floater: form of marine insurance that covers mobile equipment of a contractor, including road building machinery, steam shovels, hoists, and derricks ...
Time frame during which an annuitant makes premium payments to an insurance company. The obligations of the company to the annuitant during this period depend on whether a pure annuity or ...
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. ...
In personal injury cases, damages awarded to the plaintiff for the loss of joy of living. For example, if a person's negligent act results in damage to another person's leg, the injured ...
Liability Coverage: In case you're sued as a result of an auto accident. Collision Coverage: Helps cover physical damage to your vehicle due to collision or upset. Comprehensive Coverage: ...
Universal life insurance provides death benefits and income taxe-deferred savings to help you meet your financial goals while you are living. It has many flexible features and benefits that ...
A life insurance policy can help enable your family to remain financially if you or your spouse should die. Insurance company understands that life is constantly changing, so we have ...
Whole life insurance insurance provides the coverage amount to your beneficiary in the of your death, as well as cash value savings you can use during your lifetime. ...
An HMO provides comprehensive health services to its members for a prepaid fixed fee, equivalent to an insurance premium. A PPO differs from an HMO in that the PPO has no separate physical ...
A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better no worse. ...
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 ...
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