Life And Health, Business Exposures
Loss of a key person due to death, disability, sickness, resignation, incarceration, or retirement. Because of the expertise of such an individual, there could be a loss of income, market share, research and development advantage, and line of credit by the firm. Also, there are extra expenses associated with training a replacement for a key person. Coverage for many of these exposures is available under key person life and health insurance.
Popular Insurance Terms
Use of new rate structures by an insurance company without first obtaining approval of a State Insurance Department. ...
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Type of organization of property and casualty insurance companies whose objective is to share information on fraudulent claims, handle claims in an expeditious manner, and disseminate ...
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new dividend option under which the policyowner allows the dividends from the participating policy to be applied for the purposes of accumulating cash values. ...
Arrangement under which the insured pays a fixed premium to the insurance company in exchange for the total transfer of the risk to that company. ...
Legal document setting out the rules to be followed by a trustee in administering assets of a trust. The trust agreement may limit investment of trust assets to specified types of ...
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