Refund Annuity

provision in a CASH VALUE INSURANCE policy that an insured will receive the equity in some form even if the insurance is canceled. vested benefit to a retirement plan participant. It is ...

Error, misstatement, or breach of duty by an officer or director of a company that results in a lawsuit against the company. directors and officers liability insurance covers claims arising ...

Outer covering containing an insurance policy; in many instances it lists provisions common to several types of policies. ...

Stipulation of the exact time when the pension benefit guaranty corporation assumes the legal liabilities for an insured pension plan that is being terminated. ...

disposition of a claim or policy benefit. Policies may specify time limits for payment of claims or benefits and designate various methods of settlement at the option of the insurer or the ...

Provision in a marine insurance policy in which agreement has been reached between the insured and the insurance company concerning the worth of the property that is to be covered under the ...

Coverage in a separate policy or as an endorsement to the commercial general liability (CGL) form, for liability exposures for an employee who drives a leased car or his or her own ...

Coverage in the event that negligent acts and/or omissions by individual (s) and organization (s) result in damage to the environment and a liability suit against these parties. ...

Provision in an Adjustable Life Insurance policy that permits the structure of the policy to be changed by: increasing or decreasing the premium; increasing or decreasing the face amount; ...