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
Early type of no-fault automobile insurance developed by two law professors, Robert Keeton and Jeffrey O'Connell. Its basic premise is that for many accidents it is impossible to place the ...
Net profit of a business, less dividends. Reinvestment of retained earnings enables an insurance company to write more business from a stronger capital base. Contributions to retained ...
Pension plan participant's retirement benefit credited for prior years of recognized service with the employer prior to a specific date. ...
Theory developed in 1931 by H. W. Heinrich; states that an accident is only one of a series of factors, each of which depends on a previous factor in the following manner: accident causes ...
Under a general liability policy, a claim by an employer arising when an employee terminated by a supervisor without authority or just cause brings suit against the employer. Such a claim ...
List of injuries and diseases covered in a health insurance policy. Consumers are well advised to read and understand the definitions of injuries and diseases in a health insurance policy. ...
Damaged insured property in receipt by the insurance company resulting from abandonment and salvage, subrogation, and reinsurance. ...
Frequency of premium payment; for example annually, semiannually, quarterly, or monthly. ...
Observance of an event occurring on a repeated basis that leads one to believe that a certain probability is attached to the occurrence of that event. For example, if there are a red ball ...
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