Payor Clause
Definition of "Payor clause"
Provision found in juvenile insurance that waives the premiums due on the insured child's policy provided that the payor of the premiums becomes totally disabled or dies before the child reaches a stipulated age.
Popular Insurance Terms
Account established and administered by a state agency to finance a mandatory insurance program, for example, workers compensation insurance. ...
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Dividend paid in addition to the regular dividend on a participating insurance policy. ...
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Evidence of a temporary contract obliging a life or health insurance company to provide coverage as long as a premium accompanies an acceptable application. This gives the company time to ...
Approach that reflects losses expected. It is a calculation of the pure cost of property or liability insurance protection without loadings for the insurance company's expenses, premium ...
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Method, developed in 1970 by Dr. William Haddon, Jr., of classifying and preventing damage caused by accidents. The thesis is that accidents are caused by the transfer of energy with such ...
Addition to a basic insurance policy to further explain coverages, add or exclude perils and locations covered, and add or delete positions covered. For example, an endorsement to the ...
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