Perpetual Insurance

Definition of "Perpetual insurance"

Bill  Eacrett real estate agent
Bill Eacrett, Real Estate Agent Dipietro Group RE

Coverage on real property written to have no time limit. A single deposit premium pays for insurance for the life of the risk. The insurer earns enough investment income on the deposit to cover losses and costs. Upon cancellation, the insured is entitled to return of the initial deposit premium. Perpetual insurance, first issued in the U.S. in Philadelphia in 1752, is still used for fire and home owner's insurance.


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