Necessities Of Life


Definition of "Necessities of life"

Basic needs, such as food, water, clothing, and shelter, that a person requires to survive. These needs are the first layer of Maslow's Hierarchy of Needs, and are the minimum that should be provided by any life insurance plan.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Simple Interest

A transaction in which interest is not paid on interest there is no compounding. For example, if y ...

Average Semiprivate Rate

In health insurance, the applicable average rate charged for a semiprivate room in the geographical ...

Materialman's Lien

Legal lien on property on behalf of an individual who has not been paid for material furnished in co ...

Domestic Insurer

Insurance company incorporated according to the laws of the state in which a risk is located and the ...

Uniform Reciprocal Licensing Act

Law by which many states attempt to regulate insurers who are unlicensed in those states. With a few ...

Vandalism And Malicious Mischief Insurance

Coverage usually written as an endorsement to property policies such as the Standard Fire Policy. A ...

Related Real Estate FAQ

How Much Income Do I Need ?

Mortgage companies use ratios to analyze your mortgage payment. The housing payment ratio (or front ...

What Is A Maintenance Fee?

A maintenance fee is a charge by condominium associations, co-ops, or other homeowners associations ...

What Is A Proration?

A proration is the division of certain fees. If the sellers have paid the taxes six months in advanc ...

What Is A Title Search?

A title search is the process of reviewing court records and other records to ensure that there are ...

What Is Joint Tenancy?

A joint tenancy is an equal, undivided ownership in a property by two or more individuals. ...

What Is A Home Warranty?

A home warranty is a guarantee for certain features of a new home-for instance, the materials and wo ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Top Five Reasons Your Home Offer was Rejected When to buy a house How Does The Home Loan Underwriting Process Work? How is Square Footage Determined? How To Sell Your Home

FAQ

What is a qualifying ratio? I need Hospital Insurance in addition to my current health insurance policy? What is Freddie Mac? What is a housing ratio? What does the Real Estate Settlement Procedures Act (RESPA) require?