Uniform Provisions

Definition of "Uniform provisions"

Language adopted by the national association of insurance commissioners (naic) and recommended or required by state law. While they rarely dictate the language of policies, states often prescribe mandatory or optional policy minimums, or may forbid certain provisions. Therefore, while life and health benefits may vary widely, for example, policyholders are given certain uniform rights, like grace periods for paying premiums and loan and surrender values.

Search Real Estate Glossary

Related Real Estate Glossary terms

Adjustment Income

Income payable to a surviving spouse or other beneficiary upon the death of the primary wage earner ...

Premium-to-surplus Ratio

Ratio commonly used by the property and casualty insurance industry as a measure of financial streng ...

Escrow

Arrangement in which a buyer gives a deed and/ or money to an independent third party (an escrow age ...

Testamentary Disposition

Disposition or transfer of property at time of death. Although the law provides that property may be ...

Failure To Perform Exclusion

Coverage that is excluded under commercial general liability insurance (comprehensive general liabil ...

Numerical Rating System

Underwriting method used in classifying applicants for life insurance according to certain demograph ...

Related Real Estate FAQ

What Is A Ginnie Mae?

A Ginnie Mae is a name for the Government National Mortgage Association (GNMA), which is a governmen ...

What Is A Loan Origination Fee?

A loan origination fee is a fee charged by the lender-usually 1 percent of the loan amount. ...

What Is An Interest Rate?

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

What Is Comprehensive Homeowners Insurance?

Comprehensive is the most expensive type of homeowners insurance; it covers the most potential damag ...

What Is A Title?

A title is the right of property ownership. ...

What Is A Closing?

The process of finalizing all the dealing associated with the sale and purchase of a home. (Also kno ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Getting Ready to Sell? Don't make these DIY Mistakes! Real Estate Open House - The Dos and Don 6 Reasons you are not selling properties What Must I Disclose When Selling My Home? What do Real Estate Attorneys do?

FAQ

What is a survey? What if the computer I want to insure is homemade or custom-built? What are my coverage options? What is a mortgage insurance premium (MIP)? What type of Life Insurance is right for me?