Scheduled Limit | Insurance Glossary

Definition of "Scheduled limit"

Specified limit on the dollar amount of coverage for a given loss.

Coverage for extra expenses associated with the reconstruction of a damaged or destroyed building wh ...

Supplementary life insurance reserve required by state regulators when the gross premium is lower th ...

Additional utility an individual receives when purchasing an additional unit of a commodity or servi ...

Amendment to a will that adds or modifies clauses in that will, such as adding an additional benefic ...

Annual premium expressed on a proportionate basis such as monthly, quarterly, or semiannually. ...

Price at which the seller and the buyer agree to trade real estate on the open market. ...

A sales contract is the contract you draw up when you want to make an offer on a home. ...

A subdivision is a piece of land divided into several plots in which homes are built. ...

An interest rate is the percentage the lender charges you for borrowing money. ...

An investment property is a property you purchase with the intension of using it as a rental income ...

A qualifying ratio is the percentages a lender compares to see whether you qualify for a loan. ...

Principal is the amount of money borrowed and still owed on a loan not including the interest. ...

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