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
Insurance company's net gain from operations divided by its adjusted surplus. This is the accounting rate of return on stockholder's equity since the ratio shows the rate of return the ...
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Workers' premiums in a contributory employee benefit plan. ...
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Amount of the loss absorbed by an insurance company after deducting any reinsurance applicable to the loss, as well as subrogation and ABANDONMENT AND SALVAGE rights. ...
Modification of the charitable remainder uni-trust through which the beneficiaries receive a specified percentage of the assets' value in the trust usually paid out on a quarterly basis. If ...
Written statements on a form by a prospective insured about himself, including assets and other personal information. These statements and additional information, such as a medical report, ...
Coverage for an insured when negligent acts and/or omissions result in bodily injury and/or property damage on the premises of a business, when someone is injured as the result of using the ...
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