Replacement Car
Automobile purchased or leased by the insured or the insured's spouse that takes the place of the insured or the insured spouse's present car as covered in the personal automobile policy (pap). It will have the same coverage as the vehicle it replaced. The insurance company must be notified within 30 days of delivery of this car to the insured or the insured's spouse only if the insured wishes to add or continue physical damage coverage.
Popular Insurance Terms
In life insurance, single payment instead of a series of installments. ...
Annual report to policyholders of certain cash value life insurance products and annuities to inform them of the value of the investment portion of their contracts. Buyers of whole life ...
Assets that are not readily convertible into cash 'without a significant loss of principle, such as an automobile, a house, television set, a radio, etc. ...
Total limit of coverage under all policies applicable to the covered loss for which an insured can be indemnified. For example, if two health insurance policies are in force on the same ...
Effort of a poor risk to seek insurance coverage. The onset of a health problem such as heart disease, for example, may prompt a person to apply for life insurance before seeking medical ...
Same as term Annual Policy: contract remaining in force for up to 12 months unless canceled earlier. After 12 months the policy can either be renewed or not renewed by the insurance company ...
Coverage under the Commercial Property Floater for loss under two forms: livestock mortality life insurance and livestock floater. This is really life insurance coverage for livestock. ...
Life insurance payment that is constant from year to year. The premium may be paid throughout the life of an insured or may be limited to a maximum number, such as 30 annual premiums. The ...
Risk associated with excessive rate of growth in premiums and contingencies such as affiliate company requirements. ...
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