Life And Health Insurance, Personal And Family Exposures
Definition of "Life and health insurance, personal and family exposures"
Personal and family loss by death, disability, sickness, old age, accident, and unemployment. All of these exposures are insurable, and coverage's can be purchased under a variety of policies. In life insurance these include adjustable life, current assumption, endowment, family income policies, family maintenance policies family policy, limited payment life, universal life, and variable life. In annuities, both fixed and variable types are available; in health insurance, medical expense and disability income coverage's are available. In pensions, there are defined benefit and defined contribution pension plans. The various Social Security benefits also provide considerable protection against personal and family exposures.
Popular Insurance Terms
Payments awarded by a court in a liability suit. Money damages can be broken down into compensatory and punitive. Compensatory damages reimburse a plaintiff for expenses incurred for such ...
Product or service that does more harm than good to society, or endangers life or health. Society would probably be better off without such a product or service. ...
Arrangement by which a policy owner authorizes an insurance company to draft his checking account for premiums due on an insurance policy. The drafting is usually monthly, persistency of ...
Designation of a policy's death benefit or its cash surrender value to a creditor as security for a loan. If the loan is not repaid, the creditor receives the policy proceeds up to the ...
Organization that develops and administers educational materials and examinations for life insurance agents. A significant objective of the courses is sales technique. ...
Maximum amount of insurance coverage that an insurance company will underwrite in a particular geographic area. ...
Designation earned by passing 10 national examinations on subjects including mathematics of property and casualty insurance, actuarial science, insurance, accounting, and finance. ...
Determination that group plans offering legal services are limited to an annual tax-free benefit of $70 per employee; group plans may offer employer-provided educational assistance plans on ...
Same as term Original Age: insured's age at the date a term life insurance policy is issued. An original age or retroactive conversion option permits the insured to convert the term policy ...
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