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
Agreement under which an insurance company promises to pay all compensation and all benefits required of an insured employer under the workers compensation act of the state or states listed ...
Accounting method of establishing data on an annual basis. ...
Refers to the insured or reinsured paying premiums into an account at a commercial bank that will be used to pay for future or past losses. Portions of the premiums not required to pay for ...
Company not licensed by a particular state to sell and service insurance policies within that state. ...
Arrangement, often funded by life insurance, to continue an employee's salary in the form of payments to a beneficiary for a certain period after the employee's death. The employer itself ...
Insurance on the life of the employee, paid for by the company, with the company being the beneficiary under the policy. This insurance vehicle is being used more and more to fund ...
Total estimated cost incurred by a person or persons, a family, or a business resulting from the death or disability of a wage earner (key employee), damage or destruction of property, ...
Organization founded in 1993, the thesis of which is to apply quality management principles to insurance functions. To this end, the organization is involved in insurance industry-wide ...
Coverage in the event a safe of a business is forceably entered, either on or off the premises, and property is stolen from the safe. Also covered is damage to the premises during actual or ...
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