Package Policy
Several basic property and/or liability policies combined to form a single policy. For example, the homeowners insurance policy is composed of such basic coverages as broad form personal theft insurance, comprehensive personal liability, and fire insurance-standard fire policy.
Popular Insurance Terms
Periodic payments to an injured person or survivor for a determinable number of years or for life typically in settlement of a claim under a liability policy. Terms may include immediate ...
Risk management control device used to minimize accidents and injuries to employees resulting from an unsafe working environment. For example, potential cumulative trauma disorders losses ...
Law that established rules and regulations to govern private pension plans, including vesting requirements, funding mechanisms, and general plan design and descriptions. For example, three ...
Insurance that usually follows the format of comprehensive health insurance plans in that there is a coinsurance requirement of usually 75 to 80%, and a limit on benefits for any one person ...
Fixed or stated amount of interest paid by a security expressed as a percent of the par value of the security. The longer the length of time until maturity, the higher the coupon rate to ...
Income paid to a worker who is temporarily disabled by an injury or sickness that is not work related. Compare with workers compensation benefits, which are available only to workers ...
Model state law of the NAIC that stipulates that the purchaser (debtor) of a credit life insurance (creditor life insurance) policy must be provided a descriptive policy; the policy must ...
Injury covered under workers compensation insurance. For every part of the body that may be injured, there is a listed financial sum that will be paid. For example, a right severed index ...
Insurance policy underwritten and issued by a syndicate listing each risk insured by each syndicate member. ...
Have a question or comment?
We're here to help.